Violation Tracker Individual Record

Company: 
RiverSource Life Insurance Co.
Current Parent Company: 
Ameriprise Financial
Penalty: 
$800,000
Year: 
2015
Date: 
June 22, 2015
Offense Group: 
consumer-protection-related offenses
Primary Offense: 
insurance violation
Violation Description: 

RiverSource agreed to pay a $800,000 administrative penalty in settlement of allegations that its claims handling procedures for life, accident, disability and long term care insurance did not comply with state regulations.

Level of Government: 
state
Action Type: 
agency action
Agency: 
California Department of Insurance
Civil or Criminal Case: 
civil
Facility State: 
California
HQ Country of Parent: 
USA
HQ State of Parent: 
Minnesota
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
financial services
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.