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Violation Tracker Individual Record

Company: Universal Underwriter Insurance Co.
Current Parent CompanyZurich Insurance
Parent at the Time of the Penalty Announcement subscribe to see this data field
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 Current Parent: Switzerland
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)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.