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Company: NEW YORK LIFE INSURANCE COMPANY
Current Parent Company:
New York Life Insurance
Parent at the Time of the Penalty Announcement:
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Penalty: $100,000
Year: 2023
Date: March 31, 2023
Offense Group: consumer-protection-related offenses
Primary Offense: insurance violation
Violation Description: New York Life Insurance agreed to pay a $100,000 administrative penalty in settlement of the findings in a market examination report that the company used unapproved forms and had non-compliant content in its policy forms.
Level of Government: state
Action Type: agency action
Agency: Louisiana Department of Insurance
Civil or Criminal Case: civil
Facility State: Louisiana
HQ Country of Current Parent: USA
HQ State of Current Parent: New York
Ownership Structure of Current Parent: mutual
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: insurance
Source of Data:
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the
Update Log.
