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Violation Tracker Individual Record

Company: Lincoln National Corp.
Current Parent Company: Lincoln National
Penalty: $109,957,440
Year: 2023
Date: October 5, 2023
Offense Group: consumer-protection-related offenses
Primary Offense: consumer protection violation
Secondary Offense: insurance violation
Violation Description: Lincoln National agreed to create a $109 million pool to compensate policyholders in a lawsuit alleging it imposed burdensome cost-of-insurance charges to bring about policy lapses and avoid paying benefits.
Level of Government: federal
Action Type: private litigation
Court: Eastern District of Pennsylvania
Civil or Criminal Case: civil
Case ID: 2:16-cv-06605
Case Name: BHARWANI et al v. LINCOLN NATIONAL CORP. et al
Private Lawsuit Resolution Type: settlement
HQ Country of Current Parent: USA
HQ State of Current Parent: Pennsylvania
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: financial services
Source of Data: (click here)
Link to PACER Case Docket (must be logged in): (click here)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.