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
MyFloridaCFO.com
Topics Agencies Florida Insurance Wholesale
Was this article valuable?
Here are more articles you may enjoy.
AIG, Chubb Can’t Use ‘Bump-Up’ Provision in D&O Policy to Avoid Coverage 
Navigators Can’t Parse ‘Additional Insured’ Policy Wording in Georgia Explosion Case 
Accuweather: Winter Storm to Cause Up to $115B in Damage, Economic Losses 
Updated: 6 Killed in Private Plane Crash at Maine Airport 
