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Violation Tracker Individual Record

Company: Globe Life Insurance Company of New York
Current Parent Company: Globe Life Inc.
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Recap of Ownership Changes:  subscribe to see this data field
Penalty: $7,769,000
Year: 2019
Date: January 28, 2019
Offense Group: consumer-protection-related offenses
Primary Offense: insurance violation
Violation Description: The New York State Department of Financial Services fined Globe Life Insurance Company of New York $439,000 after the company improperly denied claims and rescinded life insurance policies for 439 deceased policyholders and engaged in unfair claims settlement practices in violation of New York Insurance Law. The policies had a face amount of approximately $7,330,000 and were marketed to low- and middle-income New Yorkers for funeral, burial and other final expenses.
Level of Government: state
Action Type: agency action
Agency: New York Department of Financial Services
Civil or Criminal Case: civil
Facility State: New York
HQ Country of Current Parent: USA
HQ State of Current Parent: Texas
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.