Insurance Regulators ‘Ramping Up’ Retained-Asset Disclosure
This article is for subscribers only.
Insurance watchdogs must make sure life insurance beneficiaries are better aware of their options for collecting proceeds from so-called retained-asset accounts, the leader of a group of regulators said today.
“There need to be improved disclosure requirements,” said Jane Cline, president of the National Association of Insurance Commissioners, in an interview on Bloomberg Television. “We will be ramping up our consumer-education initiatives on this.”