CDI to take legal action against Athene and Accordia

[DHK]

Advisory: Commissioner Jones announces legal action against life insurers to protect 50,000 policyholders

Advisory: Commissioner Jones announces legal action against life insurers to protect 50,000 policyholders
EMBARGOED UNTIL: June 12, 2018 at 10 am

SACRAMENTO, Calif. — The California Department of Insurance is taking legal action against Accordia Life and Annuity Company and Athene Annuity and Life Company for failing to service over 50,000 policies issued to California consumers and imperiling the benefits to which consumers are entitled.



I wonder what the basis of this legal action really is? Guess I'll find out tomorrow.