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Facility of Payment Clause
An Industrial Life policy includes this provision which states that the insurer upon the insured's death under specific conditions can choose the beneficiary if who is named in the policy is a minor or deceased. A funeral home, for example, can be named as a beneficiary to receive the death benefit if the beneficiary list is dead.
Insurance Industry News from ProgramBusiness.comLizabeth Zlatkus to Retire from The Hartford
The Hartford announced that Lizabeth Zlatkus, executive vice president and chief risk officer, will retire from the company in the fourth quarter of 2011. The Hartford is launching an internal and external search for her successor.
Liz is a talented executive who is known for building strong teams, as well as for her unique breadth of experience and focus on execution excellence," said Liam E. McGee, The Hartford's chairman, president and chief executive officer. "We appreciate and value her contributions to The Hartford over the last 28 years, particularly in her most recent role as chief risk officer. She and her team have made significant progress in improving the company's overall risk profile and fostering a consistent approach to risk management throughout the company."
Zlatkus joined The Hartford in 1983 in the company's property and casualty operations. Throughout her career at the company, she served in a variety of operational and finance roles, including president of International Wealth Management and Group Benefits, co-chief operating officer of life operations and chief financial officer of The Hartford. Zlatkus began her professional career at Peat Marwick Mitchell & Co. (now KPMG).
Zlatkus has been recognized for her professional achievements and contributions to the community. In 1999, she participated as a member of The President's Committee on Employment of People with Disabilities; Business Insurance magazine named Zlatkus as one of the top 100 women executives in 2000 and 2006; and the Connecticut Chapter of the Cystic Fibrosis Foundation recognized Zlatkus as its Community Leader of the Year in 2009. Zlatkus formerly served on the HP Financial Services Board of Advisors.
She currently serves as Regulatory Chair of the North American CRO Council, and is a member of the Board of Trustees for the Connecticut Science Center and the Pennsylvania State University SMEAL Business School Board of Visitors.
Zlatkus graduated with distinction from Pennsylvania State University in 1981 and was selected as an Alumni Fellow in 2003. Click for the whole story...