Nyl Investors Llc

Allegations: MULTIPLE INSURANCE DEPARTMENTS RAISED CONCERNS WITH SETTLEMENT PRACTICES, PROCEDURES AND POLICY ADMINISTRATION RELATING TO CLAIMS, AND THE USE OF THE SOCIAL SECURITY DEATH MASTER FILE, OR SIMILAR SERVICE, INCLUDING EFFORTS TO IDENTIFY THE OWNERS AND BENEFICIARIES OF UNCLAIMED PROCEEDS. Status: Final Sanction Detail: $15 MILLION TO COVER THE COST OF THE EXAM. THE COMPANY AGREED TO ADOPT POLICIES AND PROCEDURES. Summary: $15 MILLION TO COVER THE COST OF THE EXAM. THE COMPANY AGREED TO ADOPT POLICIES AND PROCEDURES. MOST OF THE STATES HAVE AGREED TO THE SETTLEMENT AND ALLOCATION OF THE $15 MILLION. THE ALLOCATION IS BASED ON THE COMPANY'S BUSINESS IN A GIVEN STATE.

Allegations: A CIVIL PENALTY TO NEW YORK LIFE INSURANCE COMPANY BECAUSE A THIRD PARTY ADMINISTRATOR WORKING ON ITS BEHALF FAILED TO COMPLY WITH THE HEALTH INSURANCE CLAIM PAYMENT STANDARDS UNDER THE KENTUCKY PROMPT PAY ACT. Status: Final Sanction Detail: IN MARCH 2014 NEW YORK LIFE INSRUANCE COMPANY PAID A CIVIL PENALTY IN THE AMOUNT OF $5,000 TO THE KENTUCKY DEPARTMENT OF INSRUANCE BECAUSE A THIRD PARTY ADMINISTRATOR WORKING ON ITS BEHALF FAILED TO COMPLY WITH THE HEALTH INSURANCE CLAIM PAYMENT STANDARDS UNDER THE KENTUCKY PROMPTLY Summary: IN MARCH 2014 NEW YORK LIFE INSRUANCE COMPANY PAID A CIVIL PENALTY IN THE AMOUNT OF $5,000 TO THE KENTUCKY DEPARTMENT OF INSRUANCE BECAUSE A THIRD PARTY ADMINISTRATOR WORKING ON ITS BEHALF FAILED TO COMPLY WITH THE HEALTH INSURANCE CLAIM PAYMENT STANDARDS UNDER THE KENTUCKY PROMPTLY

Allegations: THE ILLINOIS DEPARTMENT OF INSURANCE CONDUCTED A MARKET EXAM, THE REPORT OF WHICH IDENTIFIED CERTAIN AREAS WHERE NYLIC WAS NOT IN COMPLIANCE WITH ILLINOIS INSURANCE REGULATIONS. NYLIC AND THE IL DEPT OF INSURANCE ENTERED INTO A STIPULATION AND CONSENT ORDER UNDER WHICH NYLIC WILL PAY A CIVIL PENALTY AND INSTITUTE POLICIES AND PROCEDURES TO COMPLY WITH APPROPRIATE REGULATIONS. Status: Final Sanction Detail: THE ILLINOIS DEPARTMENT OF INSURANCE CONDUCTED A MARKET EXAM, THE REPORT OF WHICH IDENTIFIED CERTAIN AREAS WHERE NYLIC WAS NOT IN COMPLIANCE WITH ILLINOIS INSURANCE REGULATIONS. NYLIC AND THE IL DEPT OF INSURANCE ENTERED INTO A STIPULATION AND CONSENT ORDER UNDER WHICH NYLIC WILL PAY A CIVIL PENALTY AND INSTITUTE POLICIES AND PROCEDURES TO COMPLY WITH APPROPRIATE REGULATIONS. Summary: THE ILLINOIS DEPARTMENT OF INSURANCE CONDUCTED A MARKET EXAM, THE REPORT OF WHICH IDENTIFIED CERTAIN AREAS WHERE NYLIC WAS NOT IN COMPLIANCE WITH ILLINOIS INSURANCE REGULATIONS. NYLIC AND THE IL DEPT OF INSURANCE ENTERED INTO A STIPULATION AND CONSENT ORDER UNDER WHICH NYLIC WILL PAY A CIVIL PENALTY AND INSTITUTE POLICIES AND PROCEDURES TO COMPLY WITH APPROPRIATE REGULATIONS.

Allegations: NYLIC ADMITED TO THE FACTS AND ACCEPTED THE MARYLAND ADMINISTRATION'S CONCLUSIONS AS STATED IN THE EXAMINATION REPORT (MCLH-17-2011-E), IN RELATION TO NOT OFFERING THE BENEFICIARY IN WRITING AN EXPLANATION OF THE FEATURES OF THE RETAINED ASSET ACCOUNTS. NYLIC DENIED LIABILITY TO ANY THIRD PARTY AS A RESULT OF THE VIOLATIONS. Status: Final Sanction Detail: NYLIC ADMITED TO THE FACTS AND ACCEPTED THE MARYLAND ADMINISTRATION'S CONCLUSIONS AS STATED IN THE EXAMINATION REPORT (MCLH-17-2011-E), IN RELATION TO NOT OFFERING THE BENEFICIARY IN WRITING AN EXPLANATION OF FEATURES OF THE RETAINED ASSET ACCOUNTS. NYLIC DENIED LIABILITY TO ANY THIRD PARTY AS A RESULT OF THE VIOLATIONS. NYLIC AND THE MARYLAND ADMINISTRATION AGREE TO THE TERMS OF THE ORDER WHERE NYLIC PAID $1000.00 IN PENALTIES AND IMPLEMENTED REMEDIAL MEASURES. Summary: NYLIC ADMITED TO THE FACTS AND ACCEPTED THE MARYLAND ADMINISTRATION'S CONCLUSIONS AS STATED IN THE EXAMINATION REPORT (MCLH-17-2011-E), IN RELATION TO NOT OFFERING THE BENEFICIARY IN WRITING AN EXPLANATION OF FEATURES OF THE RETAINED ASSET ACCOUNTS. NYLIC DENIED LIABILITY TO ANY THIRD PARTY AS A RESULT OF THE VIOLATIONS. NYLIC AND THE MARYLAND ADMINISTRATION AGREE TO THE TERMS OF THE ORDER WHERE NYLIC PAID $1000.00 IN PENALTIES AND IMPLEMENTED REMEDIAL MEASURES.

Allegations: AS THE RESULT OF A ROUTINE MARKET CONDUCT EXAMINATION OF THE AFFAIRS OF NEW YORK LIFE INSURANCE COMPANY FOR THE PERIOD FROM JANUARY 1, 2005 THROUGH DECEMBER 31, 2009, THE NEW YORK STATE DEPARTMENT OF FINANCIAL SERVICES FOUND THAT NEW YORK LIFE VIOLATED SECTIONS 53-3.5(A), 53-3.2(A)(2) AND 53-3.6(B)OF THE DEPARTMENT REGULATION NO.74 AS WELL AS NEW YORK INSURANCE LAWSECTION 3201(B)(1). Status: Final Sanction Detail: FINED 732,067 Summary: AS THE RESULT OF A ROUTINE MARKET CONDUCT EXAMINATION OF THE AFFAIRS OF NEW YORK LIFE INSURANCE COMPANY FOR THE PERIOD FROM JANUARY 1, 2005 THROUGH DECEMBER 31, 2009, THE NEW YORK STATE DEPARTMENT OF FINANCIAL SERVICES FOUND THAT NEW YORK LIFE VIOLATED SECTIONS 53-3.5(A), 53-3.2(A)(2) AND 53-3.6(B)OF THE DEPARTMENT REGULATION NO.74 AS WELL AS NEW YORK INSURANCE LAWSECTION 3201(B)(1).

Allegations: A CIVIL PENALTY TO NEW YORK LIFE INSURANCE COMPANY BECAUSE A THIRD PARTY ADMINISTRATOR WORKING ON ITS BEHALF FAILED TO COMPLY WITH THE HEALTH INSURANCE CLAIM PAYMENT STANDARDS UNDER THE KENTUCKY PROMPT PAY ACT. Status: Final Sanction Detail: NYLIC PAID $6000 TO THE STATE OF KENTUCKY ON OCTOBER 30, 2014 Summary: IN OCTOBER 2014 NEW YORK LIFE INSURANCE COMPANY PAID A CIVIL PENALTY IN THE AMOUNT OF $6000 TO THE KENTUCKY DEPARTMENT OF INSURANCE.

Allegations: DURING THE COURSE OF A ROUTINE MARKET CONDUCT EXAM, THE STATE OF CONNECTICUT INSURANCE DEPARTMENT (THE STATE) FOUND NEW YORK LIFE INSURANCE COMPANY DID NOT TIMELY PAY LONG TERM CARE CLAIMS IN FOUR INSTANCES. Status: Final Sanction Detail: NEW YORK LIFE INSURANCE COMPANY WAS FINED $1,000.00, WHICH WAS PAID TO THE STATE IN DECEMBER 2017. Summary: NEW YORK LIFE INSURANCE COMPANY WAS FINED $1,000.00, WHICH WAS PAID TO THE STATE IN DECEMBER 2017.

Allegations: THE OFFICE OF THE MONTANA STATE AUDITOR, COMMISSION OF SECURITIES AND INSURANCE ("CSI") FOUND THAT SINCE 2015 NEW YORK LIFE INSURANCE COMPANY AND NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION (COLLECTIVELY, "NYL") USED GROUP LIFE INSURANCE AND GROUP ANNUITY FORMS THAT HAD NOT BEEN APPROVED BY THE CSI, PROVIDED COVERAGE UNDER SUCH FORMS TO MONTANA RESIDENTS AND DID NOT SUBMIT THE FORMS FOR APPROVAL AS REQUIRED UNDER MONTANA LAW. Status: Final Sanction Detail: MONETARY FINE: $10,000 THE MARCH 23, 2021 CONSENT AGREEMENT RESOLVES THE ALLEGATIONS AGAINST NYL AND WAS ENTERED WITHOUT ADJUDICATION OF ANY ISSUE, LAW OR FACT. Summary: MONETARY FINE: $10,000 THE MARCH 23, 2021 CONSENT AGREEMENT RESOLVES THE ALLEGATIONS AGAINST NYL AND WAS ENTERED WITHOUT ADJUDICATION OF ANY ISSUE, LAW OR FACT.

Allegations: ON OCTOBER 4, 2021 NEW YORK LIFE INSURANCE COMPANY ("NYLIC") RECEIVED AN ORDER OF CIVIL PENALTY AND ADOPTION OF A CORRECTIVE ACTION PLAN FROM THE KENTUCKY DEPARTMENT OF INSURANCE ALLEGING THAT NYLIC INCORRECTLY IMPLEMENTED PREMIUM RATE INCREASES ON 112 INDIVIDUAL LONG TERM CARE CONTRACTS IN VIOLATION OF KENTUCKY INSURANCE LAW. Status: Final Sanction Detail: MONETARY FINE: $112,000 Summary: MONETARY FINE: $112,000

Allegations: NEW YORK LIFE INSURANCE COMPANY FAILED TO USE POLICY FORMS THAT WERE REVIEWED AND APPROVED BY THE STATE. IN ADDITION, CERTAIN FORMS DID NOT COMPLY WITH STATE REGULATIONS. Status: Final Sanction Detail: MONETARY FINE: $100,000 Summary: MONETARY FINE: $100,000