Violation Tracker Individual Record

Company: 
Aetna Life Insurance Company
Current Parent Company: 
CVS Health
Penalty: 
$500,000
Year: 
2014
Date: 
April 16, 2014
Offense Group: 
consumer-protection-related offenses
Primary Offense: 
insurance violation
Violation Description: 

Aetna Life Insurance Company was penalized $500,000 for repeatedly using policy forms that violated New York Insurance Law for certain group life insurance policies and failed to inform policyholders of the rights and benefits guaranteed under those policies.

Level of Government: 
state
Action Type: 
agency action
Agency: 
New York Department of Financial Services
Civil or Criminal Case: 
civil
Facility State: 
New York
HQ Country of Parent: 
USA
HQ State of Parent: 
Rhode Island
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
retailing
Specific Industry of Parent: 
retail-pharmacies
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.