Violation Tracker Individual Record

Company: 
Bankers Life & Casualty Co.
Current Parent Company: 
CNO Financial
Penalty: 
$1,500,000
Year: 
2010
Date: 
July 1, 2010
Offense Group: 
consumer-protection-related offenses
Primary Offense: 
insurance violation
Secondary Offense: 
financial institution supervision failures
Violation Description: 

Bankers Life agreed to pay a $1.5 million penalty in settlement of allegations it failed to adequately supervise field management and insurance agents to prevent unsuitable annuity sales and improper marketing and sales practices.

Level of Government: 
state
Action Type: 
agency action
Agency: 
Wisconsin Office of the Commissioner of Insurance
Civil or Criminal Case: 
civil
Facility State: 
Wisconsin
HQ Country of Parent: 
USA
HQ State of Parent: 
Indiana
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.