Louisiana Insurance Agents Get C&D Orders for Alleged Misappropriated Premiums

September 18, 2020

Two St. Martin Parish, Louisiana, insurance producers have been hit with Cease and Desist Orders and fines for allegedly misappropriating premium funds, Louisiana Department of Insurance (LDI) reported.

The department said Tasey Ann Tolliver-Alexander is alleged to have misappropriated insurance premium in 2019. According to investigators, Tolliver-Alexander also was selling insurance with an expired license. Records from the insurer indicate that payment was never forwarded resulting in the policy being canceled.

Vincent Alexander, the owner of the Vincent Alexander Insurance Agency and the husband of Tasey Ann Tolliver-Alexander, was also issued a cease and desist order as well as a summary suspension and revocation of his producer’s license for failure to adequately supervise Tolliver-Alexander’s activity.

Alexander and Tolliver-Alexander have conducted business under the name Vincent Alexander Insurance Agency. Individuals or businesses with information regarding this case or other insurance-related activities are encouraged to report these matters to the LDI Division of Fraud and Enforcement by calling (225) 342-4956 or 1-800-259-5300.

Tolliver-Alexander and Alexander have 30 days from the time of service to request an administrative appeal or the above actions will become final.

Source: Louisiana Department of Insurance

Was this article valuable?

Here are more articles you may enjoy.