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
How States Rank in Injury Prevention
More Top Executives Say Bribes for Business Acceptable
Study: Drug Testing Driving Calif. Workers’ Comp Costs
Maryland’s State-Run WC Insurer IWIF to Become Private Nonprofit Co.
Saints’ Vilma Sues NFL Commissioner Goodell for Defamation
Safety Report Cites Lack of Progress in Reducing Motorcyclist Deaths
A Year after Joplin Tornadoes, $2.16B in Insurance Claims Paid
Safety Inspections Don’t Hurt Businesses; Do Lower Workers’ Comp Costs: Study
