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Uncovered Losses: Life Insurers' Race Bias In Decades Past Affects Policyholders Even Now; MetLife, for One, Remedied Some but Not All Effects Of Inequality to Blacks; A Curious List of Risky Jobs
The Wall Street Journal reveals that MetLife Insurance Company's past discriminatory policies have not been entirely remedied. Before 1959, MetLife gave preferential treatment to whites; whites received better policies than blacks. (Salesmen, in fact, were not allowed the offer black customers the best policies MetLife had to offer.) MetLife claims to have discontinued its discrimination, however, many of the companies' older, black clients still have inferior policies. For example, when the company converted into a publicly held institution in 2000, it had to give out stock to its policyholders. Many of the companies older, black customers received less stock than white customers who had purchased similar coverage for the same amount at the same time. The Wall Street Journal reveals that MetLife is being investigated by agencies from all 50 states, focusing on the current effects of its past practices.