In the coming months, state legislators are likely to find a bill crossing their desks that requires law enforcement agencies to auction guns confiscated in crimes rather than destroy them, as many do now.
U.S. life insurers, a group led by MetLife Inc. and Prudential Financial Inc., would be prohibited from retaining death benefits without specific consent of clients under a proposal today by state legislators.
State insurance regulators , under pressure to improve disclosure of death-benefit payment options, issued a consumer alert about the industry practice of retaining funds rather than paying them in a lump sum.
The National Conference of Insurance Legislators called for a “beneficiaries bill of rights” to protect consumers against abuse by carriers that, for decades, have earned income by retaining death benefits.
Richard Shelby , ranking Republican on the Senate Banking Committee, requested the panel review insurers’ profits from the practice of retaining soldiers’ death benefits rather than making lump-sum payments to survivors.