Arbella cancelled Rapo & Jepsen alleging premium fraud now the DOI has filed to revoke the agency’s and its owner’s licenses.
Regulation & Compliance
Acting Commissioner Disapproves Car Rule Amendment Opposed By Calianos Agency
The Commissioner has disapproved CAR’s amendment to Rule 31 on commission setoffs and scheduled the legally required hearing for April 26.
A Fraudulent Bond Scheme Leads To A Producer’s License Revocation And Fine
Over 20 contractors around the country paid $2.2 million in ‘premiums’ for bid, payment, and performance bonds that did not exist. One of the agents involved escaped indictment but lost his insurance licenses and was fined by the DOI $3,500.
Producer’s Unreported Criminal Case Leads to $1,500 Fine And License Revocation
February 26, 2017 – A nonresident producer agreed to a $250 forfeiture in Missouri for her failure to disclose a prior criminal case but her further failure to report that fine to other states resulted in nine license revocations and a $1500 fine in Massachusetts.
Producer’s Driving Under Pleas Eventually Lead to $5,000 Fine And License Revocation
February 14, 2017 -After four DUI pleas, resulting in a restricted producer license that was not reported as an administrative proceeding, a producer eventually loses all his non-resident and resident licenses in addition to being fined $5,000 by Massachusetts.
