NU Online News Service, Nov. 14, 11:20 a.m. – Texas Insurance Commissioner Jose Montemayor has signed a consent order that will give 5,475 African-American and Hispanic Texas residents access to a fund that MetLife Inc., New York, set up to resolve a dispute over race-based life insurance pricing practices.
Texas policyholders, former policyholders and beneficiaries could collect about $1.6 million from the fund, according to the Texas Department of Insurance. The amount is Texas’ share of a nationwide regulatory settlement worked out through the National Association of Insurance Commissioners, Kansas City, Mo.