Violation Tracker Individual Record

Company: 
Voya Insurance and Annuity Co. et al.
Current Parent Company: 
Voya Financial
Penalty: 
$1,250,000
Year: 
2014
Date: 
December 11, 2014
Offense Group: 
consumer-protection-related offenses
Primary Offense: 
insurance violation
Violation Description: 

Voya Insurance and Annuity Company fka ING USA Annuity and Life Insurance Company, Voya Retirement Insurance and Annuity Company fka ING Life Insurance and Annuity Company, Midwestern United Life Insurance Company, ReliaStar Life Insurance Company, ReliaStar Life Insurance Company Of New York, and Security Life of Denver Insurance Company, agreed to pay $1.25 million 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: 
USA
HQ State of Parent: 
New York
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
financial services
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.