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Violation Tracker Individual Record

Company: 4 Ever Life Insurance Company
Penalty: $300,000
Year: 2023
Date: May 11, 2023
Offense Group: consumer-protection-related offenses
Primary Offense: insurance violation
Violation Description: 4 Ever Life Insurance Company, Aetna Life Insurance Company, UnitedHealthcare Insurance Company of New York, and Wellfleet New York Insurance Company agreed to pay a total of $7.8 million in civil penalties and refunds in settlement of DFS findings that the four insurers charged unapproved premium rates to students covered under blanket health insurance contracts with institutions of higher learning. Through these actions the insurers may have gained an unfair competitive advantage in the student blanket health insurance market in New York.
Level of Government: state
Action Type: agency action
Agency: New York Department of Financial Services
Civil or Criminal Case: civil
Facility State: New York
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.