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Violation Tracker Individual Record

Company: Pennsylvania Mutual Life Insurance Company
Penalty: $110,000,000
Year: 2017
Date: December 20, 2017
Offense Group: consumer-protection-related offenses
Primary Offense: consumer protection violation
Secondary Offense: insurance violation
Violation Description: Penn Mutual agreed to pay $110 million to settle litigation alleging it improperly retained surplus funds rather than distributing them as dividends to policyholders.
Level of Government: federal
Action Type: private litigation
Court: Eastern District of Pennsylvania
Civil or Criminal Case: civil
Case ID: 2:12cv6172
Case Name: Harshbarger et al v. Pennsylvania Mutual Life Insurance Company
Private Lawsuit Resolution Type: settlement
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.