North Dakota to get about $90K as part of Allianz settlement

BISMARCK, N.D. (AP) - Several states have reached a $4.7 million settlement with Allianz Life Insurance Co. of North America and Allianz Life Insurance Co. of New York over its use of the Social Security Administration's death master file.

North Dakota is expected to receive almost $90,000 of the total.

State Insurance Commissioner Adam Hamm says his office led a multi-state examination that led to the agreement. Other states included in the agreement are California, Florida, Illinois, New Hampshire and Pennsylvania.

As part of the settlement, Allianz will put in place a number of business reforms to identify when a policyholder has died and will use the file to search for deceased policyholders and make payments to their beneficiaries.