Violation Tracker Individual Record

Company: 
Universal Underwriter Insurance Co.
Current Parent Company: 
Zurich Insurance
Penalty: 
$200,000
Year: 
2004
Date: 
January 21, 2004
Offense Group: 
consumer-protection-related offenses
Primary Offense: 
insurance violation
Violation Description: 

Universal Underwriter Insurance agreed to pay a $200,000 civil penalty plus restitution in settlement of allegations it failed to obtain knowing consent when selling credit insurance, failed to timely cancel policies on request, failed to fully disclose and screen for eligibility, failed to disclose exceptions to coverage, and used unlicensed agents while selling insurance in the state.

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: 
Switzerland
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.