Tag: california life insurance

MetLife agrees to settle life insurance claims in several states

auto Insurance fraud

The life insurance giant has agreed to a multistate settlement following regulator allegations among many states. MetLife Inc., the massive company that provides life insurance to millions of individuals across dozens of states, has announced that it will make approximately $438 million in payments toward a multistate settlement following allegations from regulators that said that it had withheld or delayed payments to thousands of policyholders. The payments will be made to beneficiaries over the next 17 years, with payments worth $188 this year. Regulators in many different states have all…

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InsureCA4less.com website provides California residents with best insurance quotes and comparisons

The new insureca4less.com website has announced the availability of its full service insurance quote website that is specifically designed to cater to the needs of the residents of California. The site is now offering Californians fast and easy access to free instant insurance quotes from insurers located within their area. It also provides the ability to compare the top quotes from several insurance companies so that users will always know that they are receiving the coverage they need, but at the best possible price that can be found. The insureca4less.com…

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California homeowners to benefit from new insurance regulations

Marc

New rules for homeowners insurance have been implemented in California to help to protect people when disaster strikes their homes. The regulations have been implemented to help consumers to make sure that they have the coverage that they need when they have been paying into an insurance policy and the time comes that they need to make a claim following a disaster. According to Amy Bach, the head of United Policyholders, following a large loss, people frequently discover that they don’t have as much coverage as “they thought they had…

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Report shows insurance is an economic player in California

A new report has shown that the property and casualty industry for California insurance is responsible for bringing billions of dollars into the state. The report, which was released by the Insurance Information Institute, showed that in 2008, that sector of the insurance industry brought $34.7 billion into the economy. It also showed that insurers are responsible for approximately 2 percent of the total gross state product for California. In fact, in that state, there are more insurance professionals employed than in any other state in the country. In 2009,…

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New death benefit battle rages on with life insurance companies

Julie Campbell

Insurance companies are now facing a new battle in the challenge for data management as state regulators are now requiring that they verify their life insurance policies against the data from the Social Security Death Master File. This is only the most recent of several changes that have been made by state regulators that are designed to help to identify life insurance policy beneficiaries by working with the Social Security Death Master File and checking it against the records for the insurance policies. While the actual regulations for this effort…

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