Monday, December 12, 2011

Unclaimed Property News Roundup: More Life Insurance Disputes, Missouri Gift Card Reminder and UK "Heir Hunters"

Life Insurance Update - NAIC and NCOIL Disagree:  We continue the twists and turns regarding the state investigations into unclaimed life insurance proceeds.  This latest disagreement doesn't involve any insurers, but rather is a squabble between two government interests organizations.  According to an article in LifeHealthPro, the National Association of Insurance Commissioners (the interest group representing state regulators) and the National Conference of Insurance Legislators (representing lawmakers) are the focus of a dispute concerning how to resolve the investigations.  If you are interested in more information regarding these investigations check out the article here.

MO State Treasurer Offers Holiday Tips Regarding Gift Cards:  Missouri State Treasurer Clint Zweifel (no stranger to these pages) is telling Missouri residents to hold on to their expired gift cards.  According to KSDK.com, Zweifel is urging Missourians to check the state unclaimed property list for the value of expired or unused gift cards.  According to the article, Missouri returned over $100,000 in abandoned gift cards over the past year.

"My Supermodel Inheritance" -- Vincent Graff of Radio Times (UK) has a story based upon the BBC television program "Heir Hunters".  According to the story, which can be found here, a woman in England was located as the heir to the estate of a post-WWII fashion model.  The article also has some information on the UK's "bona vacantia" laws (which are similar to the unclaimed property laws of the states).  Perhaps more interesting, from an unclaimed property standpoint at least, is the "Heir Hunters" show itself which, according to the BBC website "follow[s] the work of heir hunters, probate detectives looking for distant relatives of people who have died without making a will."  No word on whether CSI:  Unclaimed Property Division is also in the works.

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