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Life Health > Life Insurance

Keller Rohrback Seeks Consumers with Unclaimed Property Concerns

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Keller Rohrback L.L.P., a law firm, is looking for life insurance policy beneficiaries who believe life insurers were slow to make death benefits payments.

Keller Rohrback, Seattle, says it is investigation several life insurers “for potential violations of various state consumer protection and insurance laws, as well as potential violations of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”).”

“The investigation focuses on insurers that allegedly delay or withhold payments to beneficiaries despite knowledge that the life insurance policy holder has passed away,” the firm says in an announcement that was distributed through the Business Wire press release distribution service.

“Several abusive practices by life insurance companies have recently have been reported by the California controller and insurance commissioner, including the insurers’ failure to cross-check dormant accounts with government databases that list names of the dead despite the fact that the insurance companies routinely check these databases to cease annuity payments when a policy holder dies,” the firm says. “Insurers have also reportedly continued to pay premiums to themselves from cash reserves built-up in an account for several years after the insured has passed, and then cancelled the policy once the reserves are fully depleted, without ever notifying the beneficiaries.”