Violation Tracker Individual Record

Company: 
Jackson National Life Insurance Co.
Current Parent Company: 
Prudential (UK)
Penalty: 
$1,250,000
Year: 
2016
Date: 
January 20, 2016
Offense Group: 
consumer-protection-related offenses
Primary Offense: 
insurance violation
Violation Description: 

Jackson National Life Insurance Co. and Jackson National Life Insurance Co. of NY agreed to pay $1,250,000 to the state as part of a 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 Parent: 
United Kingdom
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
insurance
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.