Former N.Y. Broker Charged with Selling False Workers’ Comp Policy

New York State Insurance Department Superintendent Gregory Serio announced the arrest of Ross Anderson, 47, a former insurance broker, on charges that he falsified business records by selling fraudulent insurance, leaving a customer without proper coverage.

An investigation by the NYSID’s Frauds Bureau, the State Insurance Fund and the Nassau County District Attorney’s office, reportedly revealed that “Mr. Anderson created and sold a fraudulent Certificate of Liability, which listed a fictitious Workers’ Compensation Policy to an unsuspecting subcontractor, thereby intending to steal $600,” said the bulletin.

Anderson, who is no longer a licensed insurance broker, was arrested last week and faces up to four years in prison if convicted.