Violation Tracker Individual Record

Company: 
John Hancock Life Insurance Company
Current Parent Company: 
Manulife Financial
Penalty: 
$13,300,000
Year: 
2012
Date: 
November 9, 2012
Offense Group: 
consumer-protection-related offenses
Primary Offense: 
insurance violation
Violation Description: 

John Hancock agreed to pay $13.3 million to settle multistate litigation concerning its procedures for identifying owners and beneficiaries of unclaimed proceeds.

Level of Government: 
state
Action Type: 
agency action
Agency: 
Multistate Financial Regulators Case
Civil or Criminal Case: 
civil
HQ Country of Parent: 
Canada
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
insurance
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.