ING To Fork Over $10.7M Following Death Benefits Probe

Law360, New York (August 20, 2013, 5:35 PM ET) -- ING Life Insurance & Annuity Co. has agreed in a settlement to pay $10.7 million to state regulators and to work harder to track down and pay beneficiaries of life insurance policies, following a multistate probe, becoming the latest life insurer to strike such a deal, officials said Monday.

ING's settlement with regulators from Florida, California, Illinois and other states stems from a probe into ING's use of the Social Security Administration's Death Master database. 

Regulators say life insurers have relied on the database to stop...
To view the full article, register now.

Dewey Verdict Watch

Follow our exclusive coverage of the trial of the year:

Click here for the latest