Louisiana Agent Accused of Pocketing Insurance Premiums

September 10, 2009

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

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Latest Comments

  • September 11, 2009 at 12:55 pm
    Mr. Obvious says:
    These are nothing but advertisements for future candidates for Governor of Louisiana. Graft & greed are requiremnts for the office.
  • September 10, 2009 at 4:45 am
    Doctor J says:
    Indictments are par for the course in Louisiana.
  • September 10, 2009 at 1:31 am
    Joe L. from California says:
    I am very happy to read that Louisiana is finally cleaning out the bad people in the Insurance Industry. IJ, you are doing the right thing. I love Louisiana & try to get there... read more
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