Louisiana Agent Accused of Pocketing Insurance Premiums
A Thibodaux, La., insurance agent and his agency have been issued a cease and desist order, summary suspension of licenses and fine notice for 12 counts of alleged misappropriation of premiums, the Louisiana Department of Insurance reported.
Robert Joseph Boudreaux and B&M Insurance Agency were served on Sept. 4 with an order to cease and desist from engaging in the business of insurance, a summary suspension notice and a $5,500 fine notice.
Boudreaux is alleged to have collected $6,820.73 in premiums from 11 insurance consumers, which he did not remit to the insurance companies.
Department records show that Boudreaux was issued a Life, Accident and Health license in August 1987, and a Vehicle Physical Damage and Property and Casualty license in September 2000. His agency, B&M Insurance Agency, was issued a Vehicle Physical Damage and Property and Casualty license in May 2001.
All of Boudreax’s licenses were suspended on Sept. 4 and will be permanently revoked in 30 days from that time unless the department receives a hearing request.
Source: Louisiana Department of Insurance
- Beyond the Claim: How Social Canvassing is Transforming Insurance Fraud Detection
- California Chiropractor Sentenced to 54 Years for $150M Workers’ Comp Scheme
- EPA Designates PFAS Chemicals as Superfund Hazardous Substances
- California Sees Two More Property Insurers Withdraw From Market
- Report: Vehicle Complexity, Labor ‘Reshaping’ Auto Insurance and Collision Repair
- Millions of Recalled Hyundai and Kia Vehicles, With Dangerous Defect, Remain on Road
- Poll: Consumers OK with AI in P/C Insurance, but Not So Much for Claims and Underwriting
- Mother of 8-Year-Old ‘Violently Sucked’ into Houston Hotel Pool Files Wrongful Death Suit