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Choice Home Warranty (CHW)

Details


Industry: Insurance
Underlying Misconduct: Other
Matter Type: State Attorney General
Relevant Jurisdiction(s): Superior Court of New Jersey
Penalties: Settlement Payment
Fine Amount: $779,913.93
Reporting Agencies: State Attorney General
Resolution Form: Consent Judgement
Agreement Date: June 9, 2015
Monitor Reference Term: Independent Compliance Monitor
Monitor Identity: Unknown
Monitorship Term: 2 Years
Monitor Selection Process:

Host Organization shall retain an Independent Compliance Monitor, approved in advance by the Reporting Agency.

Time to Propose Monitors: Not Specified
Time to Engage Monitor: 30 days
Time to First Report: 60 days
Reporting Frequency: Quarterly
Monitor Required Qualifications:

Familiar with the terms of the Consent Judgment; Cannot have any direct or indirect interest in Host Organization or Reporting Agency.

Summary of Monitor's Scope:

Monitor compliance with Agreement.

Summary of Monitor's Activities:

Monitor compliance with the terms of the Agreement, as well as with all applicable State laws; Monitor compliance with internal policies; Evaluate the adequacy of internal policies and procedures to ensure compliance with all applicable State laws, and recommend any changes; Provide written quarterly reports to the Reporting Agency.

Monitor's Restrictions:

Cannot be employed or affiliated with Host Organization for at least 1 year after end of Monitorship. Cost of Monitor not to exceed $100,000, regardless of length of Monitorship.

Documents Uploaded: CHW-NJ-Div-Consumer-Affairs-and-AG-Consent-Judgment-9Jun2015.pdf