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Violation Tracker Individual Record

Company: Jefferson National Life Insurance Co.
Current Parent Company: Nationwide
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Penalty: $165,342
Year: 2021
Date: July 29, 2021
Offense Group: consumer-protection-related offenses
Primary Offense: insurance violation
Violation Description: Jefferson National agreed to pay a $150,000 penalty and $14,342 in restitution in settlement of allegations it and its insurance agents failed to perform an independent review of suitability of its annuities for a client who was sold a product she later stated she did not understand.
Level of Government: state
Action Type: agency action
Agency: California Department of Insurance
Civil or Criminal Case: civil
Case ID: GG201800071
Facility State: California
HQ Country of Current Parent: USA
HQ State of Current Parent: Ohio
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.