New York Releases Disciplinary Action Report
The New York Insurance Department issued its newest list of disciplinary actions against agents, companies and brokers in the state. Among the fines and disciplinary actions contained in the report:
- Merastar Insurance Company of Chattanooga, Tenn. paid a $5,000 fine for issuing notices of cancellation on auto polices; the notices contained incorrect information about civil penalties that can be paid when there is a lapse of coverage.
- The Department revoked the licenses of I.S. Sahni, Inc, Sahgner Risk Managers and sub-licensee Inderbir S. Sahni, all of New York City, for failing to remit or otherwise properly account for insurance premium payments, for failing to respond to department requests for information and failing to properly maintain books and records.
- Jamel R. Patterson of Islip had his license revoked for failing to report that he had his Connecticut insurance license revoked.
- AAS Insurance Brokerage of New York Inc. and sub-licensee Robert A. Stein Jr. of New York City paid a $6,200 fine for failing to timely file affidavits and premium tax statements; Stein also failed to disclose on his renewal application for his broker’s license that he conducted insurance business as a broker in New York without a license.
- Cosmos Services of New York City and Walter J. Pilipiak as sub-licensee paid a $5,000 fine for conducting insurance business as brokers and agents in without licenses and for paying insurance broker and agent commissions to a corporation that was not licensed by the Department.
- Steve Feliciano of Shirley paid a $10,000 fine in connection with a continuing education self-study examination administered at a branch office of an insurance company, for which he is the agency manager and regional vice president. Feliciano participated in allowing the test monitor to wrongfully provide the answers to the licensees taking the examination, in violation of the Department’s continuing education guidelines.
- HRH E&S Services, Gary T. Peterson and Donna Vible-Kirczow, all of Glen Allen, Virginia, paid a $25,000 fine in connection with the placement of a medical malpractice liability insurance policy. The agents and brokers failed to obtain a declination from the appropriate residual market prior to placing an insurance policy in the excess line market and collected an insurance premium and other funds from an insured on behalf of an unauthorized insurance company, and otherwise aided and facilitated an unauthorized insurer in doing insurance business in New York State.
Source: New York Insurance Dept.
