A Louisiana insurance agency that state insurance regulators say enabled a former insurance producer to transact insurance business without a license has been issued a Cease and Desist order.
Insurance Commissioner Jim Donelon issued the C&D order to Bennett Seymour Insurance Inc. for enabling the unlicensed activity of former Monroe insurance producer Mickey Glen Bennett, who was served with a C&D order on May 29.
Bennett had his Louisiana insurance license revoked for failing to remit payments to an insurance company on behalf of an insured. LDI reported that he had accepted more than $70,000 for a commercial indemnity policy but never bound the policy or submitted the money to the insurer.
Bennett was originally cited for this action on July 26, 2019, and following an administrative appeal, Bennett’s producer license was revoked on Dec. 10, 2019.
According to the Louisiana Department of Insurance, an investigation by the Division of Fraud and Enforcement found that despite Bennett’s May 29 C&D order, he continued to engage in the negotiation and sale of insurance in Louisiana as recently as June 2, 2020.
The investigation further uncovered that the Bennett Seymour Insurance agency played a complicit role in these transactions carried out by Bennett since his revocation in December 2019, the LDI said.
This case remains under further investigation by the LDI Division of Fraud and Enforcement.
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