Florida Charges People’s Trust MGA Using Unlicensed Insurance Agents

March 6, 2009

Florida Chief Financial Officer Alex Sink has moved to prevent People’s Trust Insurance’s Managing General Agent from using unlicensed agents to sell its homeowners insurance.

The action follows an investigation by Sink’s Department of Financial Services.

Sink said that the Boca Raton-based agency faces suspension or revocation of its license if the allegations are upheld.

She also called on Florida Insurance Commissioner Kevin McCarty to look into the business practices of People’s Trust Homeowners Insurance.

The Department’s investigation is ongoing.

Source: Florida CFO

Latest Comments

  • March 19, 2009 at 6:11 am
    Kim says:
    http://weblogs.sun-sentinel.com/business/realestate/housekeys/blog/2009/03/peoples_trust_suspended_from_s.html I wrote in detail the analyzation of said coverages and the thou... read more
  • March 19, 2009 at 7:00 am
    Kim says:
    I failed to provide a completed link http://weblogs.sun-sentinel.com/business/realestate/housekeys/blog/2009/03/florida_cfo_says_boca_insurer.html
  • March 17, 2009 at 11:17 am
    Martel Radmin says:
    If you have a policy and file a claim, there insurance company will use their own adjuster's and contractor and not any of the adjusters or contractors that you want to use.
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