Whither Appellate Guidance On Unclaimed Property Audits?
April 14, 2014, 4:10 PM EDT
Law360, New York (April 14, 2014, 4:10 PM EDT) -- State regulators and much of the life insurance industry remain mired in bitter disagreement over the application of unclaimed property laws to life insurance. Contingency fee auditors fronting for regulators are pressing ahead with ongoing multistate audits and market conduct examinations, and many life insurers have entered into multistate regulatory settlements. Virtually all life insurers are either under audit, expect to be under audit or have settled an audit.
Against this backdrop, some companies and regulators are increasingly resorting to litigation to resolve growing disputes over...