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Israeli Insurance Company to Refund 29 Million Shekels to Customers
Clal Insurance will refund approximately 29 million shekels to thousands of Israeli customers for unclaimed insurance payouts, following a Tel Aviv court's approval of a class-action settlement. The company's practice of sending checks via mail led to many uncashed payments.
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What happened
- 01Clal Insurance will refund 29 million shekels to thousands of Israeli customers for unclaimed payouts.
- 02The Tel Aviv District Court approved the settlement on Thursday, October 29.
- 03The lawsuit stemmed from the company's practice of sending payments via uncashed checks.
- 04Customers have 120 days to update banking details to receive their full refunds.
- 05Unclaimed funds will largely be directed to a special fund under class-action law.
- 06The lawsuit's initiator and their lawyer will receive a percentage of the settlement.
Customers have 120 days to update their banking details to receive their funds, with specific provisions for unclaimed amounts and compensation for the lawsuit's initiator and their lawyer.
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