Violation Tracker Individual Record

Company: 
Globe Life Insurance Company of New York
Current Parent Company: 
Globe Life Inc.
Penalty: 
$7,769,000
Year: 
2019
Date: 
January 28, 2019
Offense Group: 
consumer-protection-related offenses
Primary Offense: 
insurance violation
Violation Description: 

The New York State Department of Financial Services fined Globe Life Insurance Company of New York $439,000 after the company improperly denied claims and rescinded life insurance policies for 439 deceased policyholders and engaged in unfair claims settlement practices in violation of New York Insurance Law. The policies had a face amount of approximately $7,330,000 and were marketed to low- and middle-income New Yorkers for funeral, burial and other final expenses.

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: 
Texas
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
insurance
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.