Illinois Disciplinary Report Includes Producer License Denials, Revocations

A newly released disciplinary report from the Illinois Department of Insurance includes producer license denials and revocations.

Director of Insurance Michael T. McRaith issued the following disciplinary orders for May 2010:

• Michael George King, Robbins – Insurance producer license revoked effective January 29, 2010. King was licensed to sell fire and casualty insurance since June 22, 2009. His license was revoked as a result of an investigation which revealed a 2003 felony conviction of Aggravated Discharge of a Firearm. The licensee has failed to provide documentation regarding the conviction as required by his initial license application.

• Benjamin M. Ransom, Chicago – Insurance producer license revoked effective April 8, 2010. Ransom was licensed to sell life, accident, health, fire, and casualty insurance since Nov. 13, 2006. His license was revoked as a result of an investigation which revealed he was convicted of felony Theft of Public Money, Property, or Records on Sept. 28, 1999, and failed to reveal the felony conviction on his license application.

• Yesenia H. Luna, Gurnee, and Primex, Waukegan – Insurance producer licenses for Luna and Primex revoked effective April 1, 2010. Luna and Primex were licensed to sell fire and casualty insurance since Sept. 16, 2007, and Dec. 20, 2007, respectively. The licenses were revoked as a result of an investigation which revealed that the licensees: failed to maintain premium fund trust account (PFTA) cash receipt records, which resulted in the department being unable to perform a fiduciary review of the PFTA; did not maintain positive running balances in the PFTA; and failed to maintain reconciliations of the PFTA. The licensees were assessed a $14,000 civil penalty.

• Vincent John Bazemore, Sarasota, Fla. – Insurance producer license revoked effective Oct. 12, 2009. Bazemore was licensed to sell life, accident, health, and variable insurance since Sept. 10, 2007. His license was revoked as a result of an investigation which revealed that he had his insurance license revoked in Texas and failed to facilitate and aid the Director in an investigation.

• William S. Cover, Naperville – Insurance producer license revoked effective April 1, 2010. Cover was licensed to sell life, accident, health, fire, casualty and variable insurance since April 4, 2008. His license was revoked as a result of an investigation which revealed he was convicted on Oct. 17, 2008, of felony Conspiracy (one count), felony Mail Fraud (seven counts), felony Wire Fraud (two counts), felony Aid or Assist Preparation of False Document (13 counts), felony Filing a False Tax Return (three counts). Cover also failed to notify the department of these convictions within 30 days of judgment. The order includes a $20,000 civil penalty.

• Michael Ray Mauch, Norridge – Insurance producer license revoked effective April 12, 2009. Mauch was licensed to sell life, accident and health insurance since March 19, 2009. His license was revoked as a result of an investigation which revealed a 2009 felony conviction of False Impersonation of a Peace Officer in the Circuit Court of DuPage County. Mauch also failed to provide the department with documentation regarding his felony conviction within 30 days of the conviction.

• Michael Drake Curran, Highland Park – Application for insurance producer license denied effective March 22, 2010. Curran’s application for a license to sell life, accident, and health insurance was denied as a result of an investigation which revealed that the Applicant was convicted of felony mail fraud in 2003.

• Ronald L. Phillips, Sr., Charleston – Insurance producer license revoked effective April 7, 2010. Phillips was licensed to sell life, accident, and health insurance since October 2, 2003. His license was revoked as a result of an investigation which revealed that the licensee had sold eight insurance policies to Illinois consumers while he was not properly licensed. The revocation includes a $5,600 civil penalty.

• AA&A Business Associates, Chicago – Application for a business entity license denied effective April 12, 2010. AA&A Business Associates’ application was denied as a result of an investigation which revealed that the applicant failed to reveal a Nov. 17, 2004, revocation and two previously entered Stipulation and Consent Orders, thereby providing incorrect and materially untrue information in the application for the license. The investigation also revealed that the individual running the business entity (Corrine Frances Parks) acted as an insurance producer while her license was revoked and used licensed producers names and license numbers, without their knowledge or consent, for the licensing of the business entity and to enter contractual agreements with insurance companies. The order includes a $20,000 civil penalty.

• Corrine Frances Parks, Tinley Park – Application for insurance producer license denied effective April 12, 2009. Parks application to sell life, accident, health, fire and casualty producer license was denied as a result of an investigation which revealed that the applicant failed to reveal a November 17, 2004 revocation, and two previously entered Stipulation and Consent Orders thereby providing incorrect and materially untrue information in the application for his license; acted as an insurance producer while her license was revoked; failed to return premiums; and used licensed producers, without their knowledge or consent, for licensing of her business entity and company contractual agreements. The order includes a $20,000 civil penalty.

Source: Illinois Department of Insurance

Topics Illinois Casualty