Maybe this one might be better suited to a national standard.
I have not been an advocate of federal insurance regulation replacing state insurance regulation, but I have to admit that, in certain instances, federal oversight seems to make sense.
Take the case of the new proposed unclaimed property model law just passed Nov. 20 by the National Conference of Insurance Legislators (NCOIL). The model law seems to add to the confusion revolving around the system that must be used by insurers to comply with the escheat law, which deals with finding beneficiaries of unclaimed property or turning the funds over to the states.
NCOIL is attempting to clarify state laws requiring the use of the Social Security Death Master File (DMF) by life insurers. The swiftly created model law seems to be drafted out of concern that state insurance regulators are not moving aggressively enough on the issue.