• MetLife settles accusations it didn’t pay out life insurance benefits Tuesday, April 24, 2012

    New York Times: MetLife has agreed to pay $40 million to states after accusations it and other insurance companies “retained unclaimed life insurance payouts when they should have taken more direct steps to track down beneficiaries, like matching Social Security death records with their own databases of policyholders,” reports Mary Williams Walsh. She quotes the director of Pennsylvania’s Bureau of Unclaimed Property as saying, “If they’re holding it, they’re earning a profit on that money, because they’re investing it. Whether it was illegal or not, it was certainly dishonorable.”

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