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Violation Tracker Individual Record

Company: Companion Life Insurance Company
Current Parent Company: BlueCross BlueShield of South Carolina
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Penalty: $1,656,000
Year: 2019
Date: November 21, 2019
Offense Group: consumer-protection-related offenses
Primary Offense: insurance violation
Violation Description: Companion agreed to pay a penalty of $950,000 along with restitution to customers of $481,000 and a contribution of $225,000 to the Vermont Legal Aid Society to resolve allegations that it sold student insurance polices with rates that were not approved and otherwise did not comply with state regulations.
Level of Government: state
Action Type: agency action
Agency: Vermont Department of Financial Regulation
Civil or Criminal Case: civil
Facility State: Vermont
HQ Country of Current Parent: USA
HQ State of Current Parent: South Carolina
Ownership Structure of Current Parent: non-profit
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: insurance
Source of Data: (click here)
Source Notes: 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.