The Iowa Insurance Division has ordered Hole in Won LLC, Kevin Kolenda, Hole In Won.com, Hole in Won.com Worldwide, Golf Marketing Worldwide, Compliance HIW, and Amanda Penrose (respondents) to cease acting as an insurer or insurance producer in Iowa without a license.
The respondents were ordered to pay $35,000 in civil penalties, $2,930 in restitution, and $3,415 in investigation costs.
Despite not being licensed to sell insurance products in Iowa, the respondents offered and sold prize indemnity insurance to cover events such as basketball, fishing, and golf contests. The respondents failed to pay legitimate claims, timely respond to policyholder questions, and adhere to cease and desist orders issued in other states, the division said.
Regulators said Kolenda has been convicted of felonies in Connecticut and Washington for similar actions, and, along with others, has been subject to administrative actions in Connecticut, North Carolina, Washington, Massachusetts, Oregon, Nevada, Virginia, Minnesota, California, and Arkansas.
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