Filed Under:Your Practice, Regulatory

Unclaimed property back on NAIC agenda

The National Association of Insurance Commissioners’ (NAIC) Life Insurance and Annuity Committee plans to reopen debate Friday over whether the NAIC should develop guidance aimed at ensuring what the industry calls “fair and uniform” practices in dealing with insurer compliance with unclaimed property laws.

The standing committee will take up the issue at the request of Nebraska Insurance Director Bruce Ramge. In a letter to the panel, Ramge said the NAIC should immediately begin a formal discussion on life insurers’ use of the Death Master File (DMF) or similar databases used for identifying unclaimed death benefits.

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Nichole Morford

Nichole Morford
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