Regulators Press Life Insurers to Track Insureds

State regulators in California and Florida say they will be looking to see how well life insurers are doing at determining when the life insurance policy insureds have died.

John Chiang, the California controller, says his office has been auditing 21 insurers to evaluate compliance with state unclaimed property claims.

The audit has found widespread problems with efforts to locate beneficiaries of life policies and annuity contract death benefits, Chiang says in a statement.

http://www.lifeandhealthinsurancenews.com/News/2011/4/Pages/Regulators-P...