Financial Services Industry
Industry: Email Alert RSS FeedHancock to investigate claim on Forbes estate. (Malcolm Forbes)
National Underwriter Life & Health-Financial Services Edition, May, 1990 by Landes, Jennifer
Hancock To Investigate Claim on Forbes Estate
"Trash publicity" may be the monkey wrench delaying the payment of Malcolm Forbes' life insurance policies.
According to Forbes, Inc. spokesman Don Garson, "a lot of trash publicity in some magazines about Mr. Forbes dying" probably led insurers such as John Hancock to investigate a multimillion dollar claim from the Forbes estate.
Mr. Garson confirmed that life insurance policies purchased by Mr. Forbes and valued by some accounts at $46 million, are to be used to pay the Forbes estate taxes. He said that a TIME magazine report was the first he had heard of any investigation and that John Hancock was the only insurer he knew of that was withholding money.
Hancock Vice President Mary...
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