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Violation Tracker Individual Record

Company: Physicians Mutual Insurance Co. and Physicians Life Insurance Co.
Penalty: $375,000
Year: 2008
Date: November 25, 2008
Offense Group: consumer-protection-related offenses
Primary Offense: insurance violation
Violation Description: Physicians Mutual Insurance and Physicians Life Insurance agreed to pay a $375,000 civil penalty in settling allegations of multiple violations of state insurance laws when selling Medicare supplement, long-term care and life and annuity insurance products, including misleading marketing, unreasonable premiums, and failure to determine the suitability of products.
Level of Government: state
Action Type: agency action
Agency: Minnesota Department of Commerce
Civil or Criminal Case: civil
Facility State: Minnesota
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.