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N.Y. AG looks to catch insurers dead to rights over death payouts

The state is cracking down on insurers using the Social Security death database to their own benefit

Nine life insurers have been subpoenaed by New York Attorney General Eric Schneiderman in a probe investigating whether the industry has improperly paid up on policies of holders who have passed away.

The subpoenas were sent to units of AXA SA, Genworth Financial Inc., Guardian Life Insurance Co. of America, Manulife Financial Corp., Massachusetts Mutual Life Insurance Co., MetLife Inc., New York Life Insurance Co., Prudential Financial Inc. and TIAA-CREF, the Wall Street Journal reports.

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