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Violation Tracker Individual Record

Company: Northwestern Mutual Life Insurance Co.
Current Parent Company: Northwestern Mutual
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Penalty: $287,000
Year: 2021
Date: January 27, 2021
Offense Group: consumer-protection-related offenses
Primary Offense: insurance violation
Violation Description: Northwestern agreed to pay a $287,000 administrative penalty to settle allegations it had failed to pay required interest on life insurance policy claims in at least 306 instances since 2006.
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: Wisconsin
Ownership Structure of Current Parent: mutual
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.