The Department of Consumer and Business Services (DCBS) has revoked the insurance agent’s license of a Coos Bay woman, Alice L. Sanders, for allegedly violating Oregon insurance regulations.
An investigation by the Insurance Division of DCBS found that Sanders allegedly misappropriated premiums from 25 individuals totaling $1,469.49. Although she reportedly issued checks to Financial Indemnity Co. (FIC) for the premiums, none of the checks were honored because of insufficient funds. Sanders also reportedly violated state law by failing to maintain premiums in an insurance trust account until paid to FIC.
Sanders agreed to a lifetime ban from working in the industry in Oregon.
Topics Agencies
Was this article valuable?
Here are more articles you may enjoy.
The Big Dog Is Off the Tech Porch: State Farm as ‘Next Gen Good Neighbor’ 
Florida, Louisiana Insurer Safepoint Reveals 97% Revenue Surge in IPO filing 
New York State Has Budget Deal That Includes Auto Insurance Reforms: Gov. Hochul 
Uber and FedEx Get Green Light for Racketeering Suit Against Lawyers, Doctors 
