10 largest life insurance companies in California will be investigated by The California Department of Insurance.   The department will check out the rating, financing and claims procedures of the said life insurance companies.  The market behavior inspection is concentrating on whether the life insurance companies have truly failed to compensate life insurance policy benefits to identified beneficiaries or to the state. Apparently, the life insurers have failed to provide the claims even after they have already found out that the policy holder had died, according to news released.  The market conduct examinations were urged by a research into the payment procedures of MetLife as the statement revealed.

Excerpt:

“The California Department of Insurance announced Monday that it will examine the rating, underwriting and claims practices of the state’s 10 largest life insurance companies.”

Original article can be found at:

http://www.bizjournals.com/losangeles/news/2011/05/24/dept-of-insurance-to-investigate-10.html

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