Legislation requiring the life insurance industry to conduct searches of the Social Security Administration’s Death Master File (DMF) and set the trigger for the escheatment dormancy period at the date of an insured’s death...more
Delaware is instituting an aggressive push forward on its controversial unclaimed property audit program, as indicated in two recent announcements. The Secretary of State has announced that his office will begin sending...more
A facial challenge to Delaware’s use of contingency-fee unclaimed property auditors has been given new life by a federal appellate court, which held that the arrangement is subject to due process review, reversing the lower...more
Delaware and its third-party auditors intend to continue using the same controversial estimation techniques in unclaimed property audits, as described in newly proposed regulations, even after a federal court found a...more
A lawsuit challenging the unclaimed property estimation methodology used by the State of Delaware and its auditor Kelmar Associates will proceed, according to a ruling issued by a Delaware federal district court on March 11....more