Violation Tracker Individual Record
: Allstate Life Insurance Company of New York
Current Parent Company
Parent at the Time of the Penalty AnnouncementPenalty
to see this data field
: January 2, 2007
: consumer-protection-related offenses
: insurance violation
: Allstate Life Insurance Company of New York agreed to pay a $1.25 million fine and will pay about $17 million in restitution to roughly 6,500 current and former policyholders for failing to comply with protective regulations for consumers who bought replacement life insurance policies and annuities.
Level of Government
: agency action
: New York Department of Financial Services
Civil or Criminal Case
: New York
HQ Country of Current Parent
HQ State of Current Parent
Ownership Structure of Current Parent
: publicly traded
Major Industry of Current Parent
: financial services
Specific Industry of Current Parent
Source of Data
: ALLSTATE LIFE TO PAY $18M FOR FAILING TO COMPLY WITH N.Y. REGS ON REPLACEMENT LIFE, ANNUITIES, Bestwire, January 2, 2007 (via Nexis).
: At the time of this case the agency was known as the New York Insurance Department.
: If an online information source is not working, check the Violation Tracker Data Sources page
for an updated link.
Current parent company note
: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log