An Australian company, Sinclair Insurance Co. Ltd. is selling amusement ride and professional liability insurance products in Kentucky without a certificate of authority from the state, according to the Kentucky Office of Insurance in Frankfort. The practice was uncovered after a KOI investigator received an alert from another state.
Nebraska and Washington have filed cease-and-desist orders against Sinclair. Arkansas, Florida, Nevada and Wisconsin are investigating the company.
Working in conjunction with the Kentucky Department of Agriculture, which regulates amusement rides and attractions, KOI has determined that at least two Kentucky businesses have amusement ride/event liability insurance certificates issued by Sinclair.
Sinclair is associated with N.M. SIM Management Ltd., an Internet-based business. Its Web site offers professional liability coverage for architects, engineers, contractors, cosmeticians, hairdressers, dental assistants and hygienists, inspectors, medical technicians, nurses, personal trainers, teachers/educators and therapists. In addition, Sinclair offers insurance for auto (Australia only), children’s health and life, expatriate health and travel.
“This is an example of why we are part of the national Stop.Call.Confirm. campaign,” Glenn Jennings, KOI executive director said. “We urge consumers to contact us to verify the legitimacy of any company before purchasing an insurance product. Our efforts to protect Kentuckians become much more difficult when dealing with one of these unauthorized entities.”
“It is the responsibility of amusement ride operators to make sure companies from which they buy insurance are authorized to do business in Kentucky,” said Wilbur Frye, executive director of the Kentucky Department of Agriculture’s Office of Consumer and Environmental Protection.
Kentucky residents who have purchased insurance products from Sinclair Insurance Company should call KOI’s toll-free number, (800) 595-6053, and ask to speak to Rodney Hugle in the Consumer Protection and Education Division.
Source: Kentucky Department of Insurance
Topics Agribusiness Kentucky Australia
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