The Idaho Department of Insurance has issued a cease and desist order against Sinclair Insurance Co. Ltd. and N.M. Sim Management Ltd.
In early April 2006, the Idaho Department of Insurance received information indicating that Sinclair Insurance Co. Ltd., through its representative N.M. Sim Management Ltd., was conducting unlicensed insurance transactions.
The Department’s examiners performed an online search to verify whether the company had a license, and confirmed business was being conducted from an office in Florida. The department’s examiner also was able to receive a quote for insurance covering risk in Idaho and a confirming e-mail, a printout of an insurance certificate of coverage, from the company evidencing insurance coverage. It immediately issued a cease and desist order. Nebraska also had a similar order against the company.
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