The Oregon Department of Consumer and Business Services revoked the licenses of five agents across the state for unrelated violations.
In one case, a Cave Junction agent, Cecile G. Zimmerman, had her license revoked after investigators found she had withheld payments for property insurance premiums in three instances. She also failed to deposit premiums in an insurance premium trust account. Zimm-erman agreed to the license revocation and to a lifetime ban from working in the insurance industry in Oregon. She had been licensed as an Oregon insurance agent since 1990.
A Beaverton agent, Edward S. Narayan, also had his license revoked and was fined $1,000 for misappropriating a check made payable to an elderly man for the cash surrender of a life insurance policy. He repaid the money almost a year later after the man’s son threatened to contact the police. At a hearing on the matter, Narayan argued that his license shouldn’t be revoked because the violation resulted from a “momentary lapse of judgement” caused by hypothyroidism. Hearing Judge Ella D. Johnson disagreed, saying she didn’t believe Narayan’s medical condition excused his conduct. She also pointed out that 13 complaints had been filed against him from 1991 to 2000, although none resulted in disciplinary action. Narayan is prohibited from selling or servicing insurance policies in Oregon.
In the third case, a Ridgefield, Wash., agent, Garey G. Bergeson, had his license revoked along with the license for his agency, Hansen-McDonald Insurance in Vancouver, for withholding insurance premiums and failing to deposit premiums into a premium trust account. Bergeson agreed to the revocation and a lifetime ban from working in the insurance industry in Oregon.
The state also revoked the license of a Grants Pass agent, Charles Anderson, for misappropriating or illegally withholding insurance applications and premium payments. He also failed to deposit premiums into a premium trust account in four instances. In addition, Anderson didn’t tell a Grants Pass man that his insurer had canceled his auto policy, leaving the man uninsured when he was involved in an auto accident. Anderson agreed to the revocation and to a lifetime ban from working in the insurance industry in Oregon.
Also, Grants Pass agent David W. Holmes’ license was suspended and he was fined $2,000 for illegally withholding premiums from an insurer and failing to deposit premiums in his premium trust account.
Was this article valuable?
Here are more articles you may enjoy.
AIG General Insurance Chairman McElroy to Retire May 1 
Why New York’s Attorney General Objects to Trump’s Bond Insurer 
Trump’s Bond Insurer Tells Judge Shortfall Is ‘Inconceivable’ 
North Carolina Adjuster and Son Charged With Embezzlement in Roof Jobs From This Issue
