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Violation Tracker Individual Record

Company: Monumental Life Insurance Company
Current Parent Company: Aegon
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Penalty: $37,000,000
Year: 2003
Date: June 13, 2003
Offense Group: consumer-protection-related offenses
Primary Offense: insurance violation
Secondary Offense: discriminatory practices (non-employment)
Violation Description: In a multistate settlerment, Monumental Life Insurance Co. agreed to pay $37 million in additional death benefits for policies that were issued with rates based on race.
Level of Government: state
Action Type: agency action
Agency: Multistate Financial Regulators Case
Civil or Criminal Case: civil
HQ Country of Current Parent: Netherlands
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: insurance
Source of Data: MONUMENTAL LIFE TO PAY $37 MILLION IN DEATH BENEFITS OVER RACE-BASED PREMIUMS, Bestwire, June 13, 2003 (via Nexis).
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.