The Florida Department of Insurance announced it revoked the license of insurance agent Terry Homer Hatfield, of Tampa. According to a complaint filed by the department, Hatfield allegedly collected premiums without placing coverage, keeping the money for himself, and issued a bogus binder of insurance coverage to at least one consumer.
Agents who fail to remit premium funds jeopardize their consumers’ insurance coverage. To avoid potential scams, consumers should never make premium payments in cash or write checks payable to their insurance agent. Checks should always be made payable to the insurance company.
Hatfield was licensed as a health and legal expense insurance agent. His license is revoked for a period of two years, after which he may reapply.
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