Keane's Unclaimed Property Blog
The life insurance industry has been in the spotlight for several years now, as many of the nation’s leading carriers have been faced with market conduct examinations or have entered into multi-million dollar settlements with state insurance regulators. The basis of these settlements has historically been over the asymmetrical use of the Social Security Administration’s […]
Two items in the news have caught our attention at Keane – the first of which may have a significant impact on unclaimed property auditors and their practices. According to a recent article, members of the Delaware Legislature announced plans to introduce legislation that would prohibit commission-based contracting for unclaimed property and would forbid a […]
Life insurance industry experts, company compliance and ethics professionals and state regulators are encouraged to attend this year’s Compliance & Ethics Forum for Life Insurers (CEFLI) Unclaimed Property Summit Meeting, “Where Are We Now and Where Are We Headed?” to take place later this month in Minneapolis, Minnesota. Valerie M. Jundt, Managing Director of Keane’s […]
June 30th, 2014 is the final deadline to enroll in the Delaware Unclaimed Property Voluntary Disclosure Program. If you have a reporting obligation to Delaware – meaning your company is incorporated in Delaware, operates in Delaware, or has investors, customers, or shareholders in Delaware – then it is highly encouraged to enroll in this voluntary compliance […]
On April 8, 2014, Kentucky passed HB 414, amending its Unclaimed Life Insurance Benefits law which became effective in January 2013. The amended law made several changes to the existing unclaimed life insurance benefits law; including a change to the frequency of the required Death Master File comparisons.