A Houma, La., area insurance agent has been served with a cease and desist order, notice of license revocation and $5,000 fine for alleged misappropriation of premiums, the Louisiana Department of Insurance announced.
Al Patrick Boudreaux, Jr., 27, is alleged to have collected from insureds $11,336 in life insurance premiums, which he failed to remit to the company. Part of this amount has been repaid to the company, leaving Boudreaux currently owing $10,318.
Department records show that Boudreaux held an Industrial Fire license from March 2003 through April 2009. He was also issued a Home Service license in April 2003, which was valid until the current action.
Source: Louisiana Department of Insurance, www.ldi.state.la.us
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