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Violation Tracker UK Individual Case

Company: Combined Insurance Company of America
Current Parent CompanyChubb Limited
Penalty: £2,800,000
Year: 2011
Date: 16 December, 2011
Offence Group: consumer-protection-related offences
Offence Type: insurance violation
Violation Description: CICA paid a £2.8 fine in settlement of a finding by the FSA that the company failed to treat insurance customers fairly when it lacked management and internal controls to check suitability of policies sold, fairness of claims, and fairness of complaints handling.
Action Type: agency action
Settlement Type: settlement of FSA Decision
Agency: Financial Services Authority
HQ Country of Parent: Switzerland
Ownership Structure of Parent: publicly traded
Major Industry of Parent: financial services
Specific Industry of Parent: insurance
Source of Data(click here)