OKLA. AGENCY IN SUPERVISION:

Oklahoma Insurance Commissioner Carroll Fisher placed a Bethany insurance agency under supervision after charges surfaced that its owner may have stolen more than $100,000 from her customers in the form of hidden refunds. The Aviation Insurance Group Agency was placed under supervision and the licenses of its owner, Shirley B. Porter-Hart of Piedmont, and its vice president, Cynthia B. Pennington of Bethany, were suspended following an investigation
into the allegations. Porter-Hart and Pennington are alleged to have pocketed money refunded by the companies they represented to their customers. In most cases, money was refunded to the agency after policies were cancelled early but the agency did not notify the policyholders, eventually moving the money into its own accounts. In some cases, policyholders were aware refunds were due, but agency employees were allegedly told to withhold five percent. Fisher ordered the insurance companies with which the agency did business to continue paying commissions to the agency but to hold any commission payments to Porter-Hart and Pennington until a final determination is made as to their license. Money sent to the agency will be used to pay back the affected policyholders. An investigation is ongoing as to the amount stolen from policyholders, but officials believe the figure ultimately will exceed $100,000. Aviation Insurance Group Agency specializes in coverage for small, privately owned airplanes.