PR Newswire: news distribution, targeting and monitoring
2014
See more news releases in Insurance

Pennsylvania Commends MassMutual's Compliant Business Practices

Share with Twitter Share with LinkedIn

HARRISBURG, Pa., Aug. 22, 2013 /PRNewswire-USNewswire/ -- The Pennsylvania Insurance Department today announced that another multi-state review concerning the use of the Social Security Administration's Death Master File (DMF) has concluded. This latest review involved the MassMutual Companies and no issues were found.  

"MassMutual was already using the DMF for more than two decades," Insurance Commissioner Mike Consedine said, adding that MassMutual's business practice was what the industry should have been doing all along. "MassMutual took its commitment and promise of protection seriously, using this information to locate and pay beneficiaries."

The purpose of the multi-state examinations is to review the use of the DMF to promptly identify when a policyholder has died, and to locate and make payment to beneficiaries. MassMutual's exam was conducted through the coordinated efforts of seven state insurance departments: California, Florida, Illinois, Massachusetts, New Hampshire, North Dakota and Pennsylvania.

The companies that make up the MassMutual Financial Group include Massachusetts Mutual Life Insurance Company, MML Bay State Life Insurance Company and C.M. Life Insurance Company

To see a copy of the full settlement agreement, visit www.insurance.pa.gov and click on the "consumer protection" tab.

Consumers with insurance questions should call the department's toll free number at 877-881-6388.  

Consumers are also reminded to inform their life insurance beneficiaries of policies, have copies of any life insurance records in at least two places and let loved ones know where these records are maintained.

Media contact: Melissa Fox, 717-787-3289

SOURCE Pennsylvania Department of Insurance



RELATED LINKS
http://www.insurance.pa.gov

Featured Video

Journalists and Bloggers

Visit PR Newswire for Journalists for releases, photos, ProfNet experts, and customized feeds just for Media.

View and download archived video content distributed by MultiVu on The Digital Center.

Share with Twitter Share with LinkedIn
 

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

 

 
 

PR Newswire Membership

Fill out a PR Newswire membership form or contact us at (888) 776-0942.

 
 

Learn about PR Newswire services

Request more information about PR Newswire products and services or call us at (888) 776-0942.

 

Online Member Center

Not a Member?
Click Here to Join
Login
Search News Releases
Advanced Search
Search
  1. PR Newswire Services
  2. Knowledge Center
  3. Browse News Releases
  4. Contact PR Newswire
  5. Send a News Release