Mo. to Get More Than $100k from Insurance Settlements
JEFFERSON CITY (AP) - Missouri will receive more than $100,000 from its participation in two multistate settlements with insurance companies.
The state insurance department says Missouri will receive about $82,000 from Aviva and more than $36,000 from Midland National insurance companies.
The department says the settlements came after a review of how those companies identified and paid the beneficiaries of life insurance policies and annuities.
The Missouri agency says the companies will be required to implement business models that result in quicker searches for beneficiaries by matching Social Security numbers against lists of people who have died.
Similar settlements were previously announced with two other insurance companies.