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Violation Tracker Individual Record

Company: John Hancock Life Insurance Co. (USA) et al.
Current Parent Company: Manulife Financial
Penalty: $200,000
Year: 2012
Date: August 15, 2012
Offense Group: consumer-protection-related offenses
Primary Offense: insurance violation
Violation Description: John Hancock Life Insurance Company (USA), John Hancock Life and Health Insurance Company of New Yorks, and John Hancock Life and Health Insurance Co. agreed to pay a $200,000 civil penalty in settlement of allegations their previous use of the automatic default option establishing a retained asset account could result in an unsuitable arrangement for a beneficiary, in violation of state regulations.
Level of Government: state
Action Type: agency action
Agency: Minnesota Department of Commerce
Civil or Criminal Case: civil
Facility State: Minnesota
HQ Country of Current Parent: Canada
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: insurance
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.