Premium fraud like this is rampant. It’s no different than any other kind of theft and it’s good to see some jail time being handed out. Hopefully, this guy will lose his license and no longer be able to operate any type of contracting business.
Where’s the agent/broker in all this? Whomever brought this risk to any of the insurers should also be penalized significantly. It is the producers’ responsibility to know his insured, and to present the risks fairly and completely. If the agent/broker insists that they didn’t know this company was in the roofing business, they should bear equal responsibility.
Premium fraud like this is rampant. It’s no different than any other kind of theft and it’s good to see some jail time being handed out. Hopefully, this guy will lose his license and no longer be able to operate any type of contracting business.
Where’s the agent/broker in all this? Whomever brought this risk to any of the insurers should also be penalized significantly. It is the producers’ responsibility to know his insured, and to present the risks fairly and completely. If the agent/broker insists that they didn’t know this company was in the roofing business, they should bear equal responsibility.