The California Department of Insurance is prohibiting James Henry Sim of Westland Insurance Brokers of San Diego from selling insurance and participating in conducting business through any production agency without the California Commissioner’s consent. According to CDI enforcement action documents posted in December 2008, Sim is being investigated for allegedly misappropriating premium funds for his own use or the use of Westland in an amount of not les than $1 million dollars.
Sim’s license has been suspended, but not revoked, during the investigation.
“The Commissioner finds that the failure to immediately issue an order prohibiting [Sim] from participating in any manner in the business of insurance threatens the financial solvency of an insurer or may reasonably be expected to cause irreparable injury to other persons,” the enforcement action documents state.
The license suspension was signed on Nov. 26, 2008.
According to Hoover’s, a Dun & Bradstreet company that provides business and financial information for more than 25 million corporations, “Westland Insurance Brokers provided commercial and personal insurance brokerage services in Southern California. Its offerings included workers’ compensation, products liability, automobile, and employee benefits programs. The company represented some 50 insurers, including AIG, Allstate, and Chubb. Westland Insurance Brokers also provided risk management, claims management, and loss prevention services, both in conjunction with its brokerage services and on an advisory basis.”
Calls placed by Insurance Journal to Westland Insurance Brokers were not returned by press time.
To view the enforcement action, visit http://www20.insurance.ca.gov/pdf/ORDER/120609.pdf.