This latest examination involving the United Services Automobile Association Group, USAA, resulted in findings that the company was compliant in its use of the DMF.
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.
The companies within USAA that are part of this exam include USAA Life Insurance Company and USAA Direct Life Insurance Company.
This multi-state examination was a result of the coordination among several state insurance departments, including New Hampshire as the lead state, California, Florida, Illinois, North Dakota and Pennsylvania.
Copyright 2015 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.