North Dakota Insurance Agent Accused of Pocketing Premiums

A North Dakota insurance agent has been barred from engaging in the business of insurance under a cease and desist order issued by the state insurance department.

According to the order issued by North Dakota Insurance Commissioner Adam Hamm, Rex Graves, a Jamestown insurance agent, is alleged to have accepted money from numerous insurance clients, applied a significant portion of the money to his own personal use and failed to maintain current payments on those clients’ insurance policies.

“In cases like this, my department moves to ensure that there is no future harm to consumers,” Hamm said. “This order stops him from working with North Dakota’s insurance consumers.”

Graves has a right to request an administrative hearing on the cease and desist order within 30 days of service.

Source: North Dakota Department of Insurance

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