Insurers Face Challenges About Unclaimed Property Issues

Unclaimed property such as uncashed checks or unclaimed policy benefits have become a valuable source of revenue for many state governments – and insurance companies are under increasing pressure to identify and remit such property to the states. Aggressive audit and estimation practices have left many insurers facing large assessments and penalties. Crowe Horwath LLP professionals with extensive unclaimed property experience offer insights into industry trends and identify specific steps insurers can take to help manage unclaimed property risks more effectively.