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Violation Tracker Individual Record

Company: Time Insurance Co. and John Alden Life Insurance Co. and Union Securitiy Insurance Co.
Current Parent Company: Haven Holdings
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Recap of Ownership Changes:  subscribe to see this data field
Penalty: $2,950,000
Year: 2012
Date: May 15, 2012
Offense Group: consumer-protection-related offenses
Primary Offense: insurance violation
Violation Description: Time Insurance Co., John Alden Life Insurance Co. and Union Securitiy Insurance Co. agreed to repay $2,750,000 in premiums (less any amounts required to be refunded by PPACA), and to pay a $100,000 penalty and $100,000 in costs, in settlement of allegations they charged small employers medical premiums that were above those approved by the department.
Level of Government: state
Action Type: agency action
Agency: Indiana Department of Insurance
Civil or Criminal Case: civil
Facility State: Indiana
HQ Country of Current Parent: USA
HQ State of Current Parent: Puerto Rico
Ownership Structure of Current Parent: privately held
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.