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Violation Tracker Individual Record

Company: Allianz Life Insurance Company of North America et al.
Current Parent Company: Allianz
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Penalty: $550,000
Year: 2016
Date: December 23, 2016
Offense Group: consumer-protection-related offenses
Primary Offense: insurance violation
Violation Description: Allianz Life Insurance Co. of North America and Allianz Life Insurance Co. of New York agreed to pay $550,000 to the state in settlement of allegations they had inadequate procedures to ensure policies and other funds were timely investigated and paid out to beneficiaries.
Level of Government: state
Action Type: agency action
Agency: Minnesota Department of Commerce
Civil or Criminal Case: civil
Facility State: Minnesota
HQ Country of Current Parent: Germany
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)
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.