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Violation Tracker Individual Record

Company: Phoenix Life Insurance Company
Penalty: $42,500,000
Year: 2015
Date: December 9, 2015
Offense Group: consumer-protection-related offenses
Primary Offense: consumer protection violation
Secondary Offense: insurance violation
Violation Description: Phoenix Life agreed to pay more than $40 million to settle litigation alleging it unfairly raised rates on premium-adjustable universal life insurance policies.
Level of Government: federal
Action Type: private litigation
Court: Southern District of New York
Civil or Criminal Case: civil
Case ID: 1:11cv8405
Case Name: Fleisher et al v. Phoenix Life Insurance Company
Private Lawsuit Resolution Type: settlement
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.