Filed Under:Your Practice, Regulatory

NAIC to wrestle with unclaimed property guidance

The National Association of Insurance Commissioners (NAIC) has agreed to consider whether to shift gears on its handling of unclaimed property enforcement issues and provide guidance aimed at ensuring what the industry calls “fair and uniform” settlement practices.

On Dec. 4, the Life Insurance and Annuities (A) Committee approved a resolution to undertake a study to determine if recommendations should be made to address unclaimed death benefits, presumably through guidance to insurers and state regulators.

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Nichole Morford

Nichole Morford
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