Please see below for an article recapping the Florida First District Court of appeals’ August 5th 2014 opinion in regard to Thrivent Financial for Lutherans v. State of Florida, Department of Financial Services (DFS). In short, the court disagreed with DFS’ interpretation that life insurance proceeds are due and payable at the time of the insurer’s death and instead, indicates that the insurer must receive ‘proof of death’.
http://www.jdsupra.com/legalnews/florida-court-of-appeal-holds-insureds-18131/
This opinion indicates that a life insurer does not have an affirmative duty to perform a match. For those under audit, it leaves open whether a state or state auditor-agent can perform its own matching. This issue may be far from resolved as Florida is likely to appeal. In the past with similar cases, the parties continue to appeal adverse decisions until final adjudication by the states’ highest court.
For more information on Cross Country Computer’s APEARS® death matching capabilities and to stay informed about other relevant insurance legislation, please contact Thomas Berger at (631) 220-6947 or via email to TBerger@crosscountrycomputer.com.
2 Responses to Florida Court Issues Opinion on ‘Time’ vs ‘Proof’ of Death