A judge in Austin ordered a London- and Canada-based organization to stop marketing boat and other watercraft insurance in Texas without a license and to pay a $1 million fine imposed last year by Commissioner Jose Montemayor. According to the Texas Department of Insurance (TDI), Judge Patrick O. Keel of the 345th State District Court issued a permanent injunction this week against International Marine Safety Foundation, also known as International Water Marine Safety Foundation or International Water Safety Foundation. The injunction names the foundation’s top officers as well: Gerard Beaudoin, Gregory Quail and Andrew Evans. The insurance carrier for International Water Marine Safety Foundation is reportedly an unlicensed Panamanian company, North American Marine General Insurance Co. International Water Marine Safety Foundation advertises on the Internet and has reportedly sent faxes offering Texas insurance agents inducements to market watercraft insurance coverage on its behalf. TDI believes that as many as 130 Texans purchased insurance through the foundation.
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