Dear Editor,
As a public official, I have a responsibility to make certain that companies doing business in our state are playing by the rules and honoring the contractual obligations they have made with their customers. If a business provides a service to our fellow Floridians, it should be expected to operate by the highest ethical standards and be held accountable.
Since I have been in office, we have reached settlement agreements with three insurance companies: Prudential, John Hancock and Metropolitan Life (MetLife). These settlements have halted the egregious practice of using the U.S. Social Security Administration’s Death Master File to discontinue recipients’ annuity payments, but not using the same file to determine that benefits are owed after the deaths of insured individuals.
This week, we reached a $40 million multi-agency agreement with nine MetLife companies. This settlement with MetLife is another important step in correcting a long-standing practice by insurance companies that was not in the best interest of their customers. Through these agreements, Florida sends a strong message that we will always stand up for consumers. I’m eager to begin reuniting deserving Floridians with the dollars that they are rightfully owed and protecting others in the future.
Consumers can access more information about the MetLife, Prudential or John Hancock settlement agreements at www.myfloridacfo.com/consumers/. To search for or claim property, visit my Bureau of Unclaimed Property’s website at www.FLTreasureHunt.org.
Jeff Atwater
Chief Financial Officer
State of Florida