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Violation Tracker Individual Record

Company: National Western Life Insurance Co.
Current Parent Company: National Western Life
Penalty: $21,020,000
Year: 2014
Date: February 11, 2014
Offense Group: consumer-protection-related offenses
Primary Offense: consumer protection violation
Secondary Offense: insurance violation
Violation Description: National Western agreed to pay $21 million to settle litigation alleging it fraudulently marketed substandard annuities to elderly customers.
Level of Government: federal
Action Type: private litigation
Court: Southern District of California
Civil or Criminal Case: civil
Case ID: 3:05cv1018
Case Name: In re: National Western, et al
Private Lawsuit Resolution Type: settlement
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)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.