Policy Locator Service from MIB Solutions Helps Attorneys Find Missing Life Insurance...

Policy Locator Service from MIB Solutions Helps Attorneys Find Missing Life
Insurance Policies

BRAINTREE, Mass., March 24 /PRNewswire/ -- A lost or missing life insurance
policy can create major headaches when handling a decedent's affairs. For
estate, probate and trust attorneys, it can be a matter of meeting their
fiduciary responsibilities to identify all such policies as they help settle
an estate.

MIB's Policy Locator Service (www.policylocator.com) can help uncover whether
such policies exist. "There is no central database of in-force life insurance
policies in North America," said Lee Oliphant, Executive Vice President of MIB
Solutions. "However, MIB's industry-wide database can report if an insurer
took a policy application for the individual and submitted a query to our
fraud detection service. It's that activity that can help point the way to
the company or companies that might have issued a life insurance policy. And
since MIB member companies underwrite the vast majority of all individually
underwritten life insurance policies in the United States and Canada, the
chances are good that we can point attorneys and consumers in the right
direction to locate a missing policy."

"We started the service in 2004, making it available to surviving spouses,
family members and legal representatives authorized to seek information about
a decedent's assets. However, we recently began actively marketing the
service to estate attorneys to alert them to a service that might provide
major assistance in helping them meet their legal responsibilities. Since the
service began, we've found application activity on roughly 30 percent of our
inquiries -- and in many cases, we found that coverage had been requested from
more than one company."

MIB's Policy Locator database currently contains more than 170 million records
representing applications processed during the last 13 years. More than 10
million new records are added annually. The service also helps attorneys and
consumers trace life policies to the correct insurance company in cases where
the original insurance company issuing a policy has "disappeared" due to its
merger into a successor or surviving company. Policy Locator provides
authorized individuals with the name and contact information of the insurance
company or companies to which the decedent applied for coverage.

"The Policy Locator Service doesn't guarantee that a policy has been issued,"
Oliphant said. "But it does point people to the companies that are most
likely to have issued coverage."

To use the Policy Locator Service, a decedent's surviving spouse, next-of-kin
or legal representative must submit an application form with a certified copy
of the death certificate. Cost of a search is $75 US, and responses usually
are returned within ten business days.

"The Policy Locator Service helps ensure that the people who are supposed to
benefit from a policy can actually do so," Oliphant said. "It points them in
the right direction for tracking down policies that can provide financial
security at a difficult time."

More information about the Policy Locator Service and search applications are
available at www.policylocator.com.

About MIB Solutions
MIB Solutions, Inc. markets products that help insurance companies make better
underwriting and risk management decisions. Its offerings include products
that reduce applicant fraud for health plans, insurers and life reinsurers;
products that enhance underwriting productivity and enterprise risk
management; and actuarial analytics that provide an industry-wide perspective
for compliance and business decisions. For more information, visit
www.mibsolutions.com.

MIB Solutions, Inc. is a subsidiary of the MIB Group, Inc.

About MIB Group
MIB Group, Inc. is the premier provider of Internet-based information and
knowledge services to the risk management market in North America and is a
leading facilitator of electronic insurance commerce (www.mib.com).

CONTACTS:
David O. Aronson Jessica Anderson
MIB Solutions, Inc. Meyers+Partners
781-751-6136 312-733-9999. ext. 303
daronson@mib.com janderson@meyerspartners.com

SOURCE MIB Solutions, Inc.

David O. Aronson of MIB Solutions, Inc., +1-781-751-6136, daronson@mib.com; or
Jessica Anderson of Meyers+Partners for MIB Solutions, Inc., +1-312-733-9999.,
ext. 303, janderson@meyerspartners.com