Honolulu Agent’s License Suspended for Misrepresentation, Fraud
Hawaii Chief Deputy Insurance Commissioner Gordon Ito has filed for the immediate suspension and a notice to revoke the producer license of Mark K. Teruya for misrepresentation, deceptive acts and fraud. Teruya is currently the president of Senior Resources of Hawaii Inc.
According to the charges stated in the action, Teruya induced an 82- year-old senior to sign forms that gave Teruya access to the person’s financial institution. Using those forms, he accessed the victim’s account without permission and transferred more than $100,000 from one insurer to another.
“The Insurance Division has been working with the Securities Enforcement Branch of the Department of Commerce and Consumer Affairs in regards to the investigation of Mr. Teruya,” Ito said. “The division believes that Mr. Teruya’s actions in this case violated the Insurance Code and negatively impacted the senior citizen.”
Ito said that the division is continuing other investigations on related matters and that more actions may be forthcoming.
Source: DCCA
- In Fight Over Insurance, Neighbors Crowdsource LA Fire Contamination Data
- Inspections of Affected Barrels Will Take Time as Flood Cleanup Progresses at Kentucky Distillery
- La Niña’s End Threatens to Unleash an Active Atlantic Hurricane Season
- Average U.S. Vehicle Age Approaching 13 Years, New Report Shows
- State Farm Wins Dismissal of Homeowners’ Class Action Over Use of Xactimate Software
- Wall Street Brokers Start Trading Insurer Claims From LA Fires
- Roof Repair and Replacement Costs up Nearly 30% Since 2022, Report Shows
- Insurance Industry Contemplates Knock-On Effect of Tariffs to Claims, Consumers