Michigan insurance regulators have permanently revoked the insurance licenses of father and son insurance agents and their agencies for selling fraudulent insurance certificates.
The Michigan Department of Insurance and Financial Services (DIFS) in January suspended the licenses agents of Dearborn-based Ali Ali and Adnan Ali-Aljadri, and their insurance agencies AAS and ASA, after finding that the father and son agents were selling fraudulent automobile insurance certificates for “one-day policies” and pocketing the fees for personal use. The DIFS said the agents were selling a full-term six-month policy and having customers sign a cancellation form, which was used to cancel the policy the next day.
They charged $75 for the “one-day” policy, which they sold as a GEICO policy. Neither man was appointed by GEICO to sell its products, but the company documented more than 800 unauthorized policies sold by the pair, the DIFS said.
The final order to revoke the licenses was dated March 13.
Source: Michigan Department of Insurance
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