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By Arthur D. Postal |
October 8, 2012
States are now including mid-sized insurance companies in their probes, and two new auditing firms are getting into this so-called “market.”
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By Arthur D. Postal |
May 9, 2012
An appellate court in New York has cleared the way for a trial on allegations that Maurice “Hank” Greenberg and Howard Smith, then CEO and CFO of American International Group, respectively, committed fraud in connection with two reinsurance transactions that allowed AIG to inflate loss reserves without transferring risk.
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By Arthur D. Postal |
May 1, 2012
Let’s pause for a second. The announcement April 24 by state regulators of a settlement with Metropolitan Life of its unclaimed property practices, coupled with an announcement that the settlement could include the return of perhaps $700 million either to policy beneficiaries or to the states, raises more questions than...
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By Arthur D. Postal |
April 24, 2012
The multi-state settlement with MetLife of its unclaimed property practices, coupled with an announcement that the settlement could include the return of perhaps $700 million either to policy beneficiaries or to the states, raises more questions than it answers.
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By Arthur D. Postal, PropertyCasualty360.com |
January 4, 2012
Life insurers based in New York have already made $52.6 million in payments to 7,934 beneficiaries as a result of the New York Department of Financial Services’ probe of insurer unclaimed property practices.
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By Arthur D. Postal |
December 5, 2011
Life insurers have already paid out $50+ million on unclaimed property in New York following the DFS probe. But now comes the attorney general and comptroller. What will the price tag be this time?
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By Arthur D. Postal |
November 4, 2011
As Minnesota and New York escalate their unclaimed property investigations, competition has arisen among the regulators over who can be toughest on life insurers.