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 |