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Violation Tracker Individual Record

Company: Bankers Life & Casualty Co.
Current Parent CompanyCNO 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
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.