MetLife Subpoenaed by California in Probe of Unpaid Benefits
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MetLife Inc., the largest U.S. life insurer, was subpoenaed by California regulators reviewing whether the company cheated policyholders’ survivors.
“MetLife failed to pay life insurance policy benefits to named beneficiaries or the state even after learning that an insured had died,” California Insurance Commissioner Dave Jones said today in a statement, citing preliminary findings from a state audit on the New York-based company.