March 22, 2016 – A former Prudential Financial life insurance agent pled guilty in Norfolk Superior Court on March 17, 2016, to charges arising from her embezzlement of more than $275,000 from 49 of her clients between 2007 and 2009.
Insurance Law | Massachusetts
Life Insurance Trust Scheme Causes Producer To Lose License
March 15, 2016 – An examination of a March 1st DOI Decision which resulted in the revocation of Non-Resident Producer’s license.
Statutory Payment Bond Ruled To Require Claim For Payment
On March 14, 2016 the Massachusetts Appeals Court decided the case of N-Tek Construction Services, Inc. (“N-Tek”) v. The Hartford Fire Insurance Company. This case decided that under a public contract an electronic mail message given by a construction manager unpaid by a subcontractor did not trip a right to payment under the general contractor’s statutory […]
Norfolk & Dedham Insured Faces 4 Years In Prison For Second Attempt To Burn Down Diner
A former diner owner faces 4 years in federal prison for attempting to defraud the Norfolk & Dedham Insurance Company (Norfolk & Dedham) by burning down his diner in Leominster. On March 9, Jeffrey Cordio (50) pleaded guilty in the United States District Court in Worcester to a single-count Information charging him with conspiracy to use fire […]
DOI Assessed Over $50,000 In Fines Against Massachusetts Licensed Producers in 2015
March 7, 2016 – A year-end review of the enforcement actions taken against licensed producers in 2015.
