If I had an insurance policy with ABC company, and it demutualized, how did the resulting demutualization proceeds end up in the abandoned property office of the state?
Every state has laws that determine what should happen to property whose owner cannot be located and with whom no communication has been recorded for a prescribed amount of time. After the prescribed amount of time, generally three to seven years, the state must take custody of it for safekeeping until you can be located or come forward to claim it.
Related Questions
- If I had an insurance policy with ABC company, and it demutualized, how did the resulting demutualization proceeds end up in the abandoned property office of the state?
- How much prior notice does a company have to give to the agent and insured when non-renewing a property and casualty insurance policy?
- How does the insurance company know what claims have been filed in connection with the property?
