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Violation Tracker Individual Record

Company: National Union Fire Insurance Company of Pittsburgh, PA
Current Parent CompanyAmerican International Group
Parent at the Time of the Penalty Announcement subscribe to see this data field
Penalty: $39,000,000
Year: 2012
Date: October 15, 2012
Offense Group: consumer-protection-related offenses
Primary Offense: insurance violation
Violation Description: National Union Fire agreed to pay $39 million to resolve litigation brought by a group of state insurance regulators after an investigation found problems relating to matters such as rate and form filings; actuarial procedures and premium allocation; licensing of agents and claims personnel; claims processing; vendor oversight; training of personnel; handling of consumer complaints; use of trusts, record retention, IT issues, among others.
Level of Government: state
Action Type: agency action
Agency: Multistate Financial Regulators Case
Civil or Criminal Case: civil
HQ Country of Current Parent: USA
HQ State of Current Parent: New York
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)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.