Violation Tracker Individual Record

Company: 
Prudential Insurance Company of America
Current Parent Company: 
Prudential Financial
Penalty: 
$25,100,000
Year: 
2001
Date: 
July 26, 2001
Offense Group: 
consumer-protection-related offenses
Primary Offense: 
insurance violation
Violation Description: 

Subsidiaries of Prudential Insurance Company of America were ordered to refund $25.1 million on 325,000 New Jersey automobile policies because they earned more profit than state law allowed.

Level of Government: 
state
Action Type: 
agency action
Agency: 
New Jersey Department of Banking & Insurance
Civil or Criminal Case: 
civil
Facility State: 
New Jersey
HQ Country of Parent: 
USA
HQ State of Parent: 
New Jersey
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
insurance
Source of Data: 

Prudential's N.J. Auto Subsidiaries Must Refund $25.1 Million to Policyholders, Bestwire, July 26, 2001 (via Nexis).

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.