ND Insurance Department Reaches Multi-State Settlement with John Hancock Insurance

| 11/16/2012

The North Dakota Insurance Department announced today that they have reached a multi-state settlement with John Hancock Life and Health Insurance Company. The state will receive $178,172 as part of a $13.3 million settlement.

The settlement came from an examination by several states into the company`s activities regarding identification of policyholders who may be deceased and locating and paying beneficiaries.

"This settlement is important in protecting insurance consumers and their families," said Insurance Commissioner Adam Hamm. "John Hancock joins several other companies in changing their business practices for the benefit of consumers."

Other states involved include California, Illinois, New Hampshire, Pennsylvania and Michigan.

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