On January 13, 2016, Senate Bill 972 was introduced in South Carolina, proposing an Unclaimed Life Insurance Benefits Act. South Carolina is now the 28th state to introduce legislation based in part of the NCOIL Model Unclaimed Life Insurance Benefits Act. Through the provisions contained within SB 972, insurers will be required to abide by […]
The New Jersey Unclaimed Property Administration audit, recently conducted by that State Auditor, revealed that the Administration failed to post 300,000 various escheated properties to missingmoney.com, a public website where individuals may search for unclaimed or escheated assets held by many of the state unclaimed property offices.
If you are responsible for filing annual escheat reports for your organization, you know that it is important to know the common types of unclaimed property. Knowing where to look within your organization to identify and account for all potential liabilities is essential for ensuring success in the future. Conversely, not having this knowledge readily […]