Timing is Everything

May 15, 2000

The Department of Consumer and Business Services (DCBS) revoked the individual and corporate insurance agent licenses of Eugene P. Hamilton of Portland for defrauding an insurer and other violations of the Oregon Insurance Code.

On July 12, 1997, an 18-year-old woman leased a car from Gladstone car dealer, but because she didn’t have enough money for the down payment and insurance, the dealer agreed to pay her first month’s insurance and contacted Hamilton to arrange coverage for the customer.

The following day, the woman caused a three-car injury accident, totaling her car. Progressive Insurance Company paid out more than $18,000 for losses sustained in the accident.

The Insurance Division of DCBS found that Hamilton hadn’t arranged coverage until July 14, yet he backdated the application to make it appear the policy was in effect when the accident occurred. In addition, he convinced the young woman to tell Progressive that she had personally met with him at the dealership on July 12 and signed the insurance application.

Hamilton was fined $2,000 for failing to properly respond to the division’s requests for information, and his agency, AA Associates Insurance Agency, was fined $1,000 for failing to notify the division of a name change and failing to notify the division when it affiliated or terminated several agents.

Was this article valuable?

Here are more articles you may enjoy.

From This Issue

Insurance Journal West May 15, 2000
May 15, 2000
Insurance Journal West Magazine

A Brief History of Automation – SEMCI: A Paperless Future-