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Violation Tracker Individual Record

Company: Bankers Life & Casualty Co.
Current Parent Company: CNO Financial
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Recap of Ownership Changes:  subscribe to see this data field
Penalty: $500,000
Year: 2005
Date: January 1, 2005
Offense Group: consumer-protection-related offenses
Primary Offense: insurance violation
Secondary Offense: financial institution supervision failures
Violation Description: Bankers Life agreed to pay a $400,000 penalty and pay $100,000 to senior citizen organizations in settlement of allegations it failed to adequately train and supervise producers, leading to a large number of customer complaints and alleged violations.
Level of Government: state
Action Type: agency action
Agency: Maine Bureau of Insurance
Civil or Criminal Case: civil
Facility State: Maine
HQ Country of Current Parent: USA
HQ State of Current Parent: Indiana
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)
Notes: The copy of the Order available on agency webpage is undated
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.