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Article: Massachusetts Investigates John Hancock Mutual Life.(Originated from The Boston Globe)
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- June 20, 1997
- Author:
CopyrightCOPYRIGHT 1997 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Jun. 20--Massachusetts regulators have begun a broad investigation to determine whether John Hancock's insurance agents engaged in deceptive sales practices.
Regulators from the state Division of Insurance said yesterday they are seeking company documents on disciplinary actions against its agents over the past 18 years.
Regulators notified Stephen Brown, chief executive of John Hancock Mutual Life Insurance Co., of the inquiry in a meeting Monday. Brown was handed a formal letter of inquiry asking for detailed reports for the years 1979 through 1996.
"It looks to me like the government, with their subpoena power, is trying to ...