Violation Tracker Individual Record

Company: 
Applied Underwriters
Current Parent Company: 
Berkshire Hathaway
Penalty: 
$3,000,000
Year: 
2019
Date: 
July 18, 2019
Offense Group: 
consumer-protection-related offenses
Primary Offense: 
insurance violation
Violation Description: 

The Department of Financial Services fined Applied Underwriters $3 million for offering workers' compensation insurance bundled with side agreements called Reinsurance Participation Agreements that were not filed with or approved by the Department. Under these side agreements many employers, including small businesses, paid substantially more than what would have been paid under similar workers' compensation plans.

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: 
Nebraska
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
diversified
Specific Industry of Parent: 
diversified
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.