In accordance with the Unclaimed Property Act of British Columbia regulations, a company that holds property on behalf of the owner of the property will monitor and maintain records of unclaimed property items (i.e. money or other assets) where the value is $50.00 or greater, that are held by it, within the application of the Act.
The B.C. Unclaimed Property Act applies to property if the transaction from which the property arose took place after July 1, 2000 and either
The following are the types of property(s) whereby proceeds
or benefits that are due and payable may be held as
Unclaimed Property items:
ivari currently administers policies originally issued by the following insurers:
"Reasonable Efforts" made by ivari to locate the owner of property may include but are not limited to some or all of the following:
Where the BC Unclaimed Property Act applies, the following events will trigger a search action and "reasonable efforts" will be made to locate and notify the property owner. The chart below indicates the date the search action will be taken and the date the property becomes unclaimed if the search is unsuccessful:
An indication of interest in the property by the owner can be defined as, but not limited to the following:
If you believe that you are the owner of property held by us, and you wish to make an inquiry as to whether we are holding your property, please complete and submit the on-line unclaimed property inquiry form.
Your inquiry will be investigated and we will communicate with you within five (5) business days.
Upon receipt of our confirmation verifying a match to your claim inquiry - a claimant must provide two pieces of identification:
In addition to proof of identity documents, claimant must provide a copy of documentation verifying property identification (for example; a copy of the policy/contract, a Statement or Confirmation previously received from us).
Prior to releasing funds to any claimant, we must be satisfied as to the claimant's identity and entitlement to the property.
Should your claim be denied, you will be notified of our appeal process.