Washington Insurance Commissioner Mike Kreidler has revoked the license of a Bellevue-based general insurance agency for improperly transferring and using trust funds belonging to insurers, clients and others.
The Insurance Commissioner ordered Kenneth I. Tobey Inc., to surrender its license and to cease operations. The firm, a national agency with offices in numerous states, has filed for bankruptcy protection in federal court in Atlanta. Earlier this month, the Insurance Division of the Oregon Department of Consumer and Business Services (DCBS) had announced that Kenneth I. Tobey Inc. in Lake Oswego, Ore., had closed. DCBS had ordered the agency not to remove its business records from Oregon.
The company’s Washington license initially was revoked last May, but the order was stayed after company officials filed an appeal and requested a hearing on the revocation. The company withdrew the appeal last week in the wake of the bankruptcy filing.
Kreidler advises insurance producers who have placed business through the agency to contact insurers to make sure the business was placed and that insurers received premium payments. Consumers or others with questions may call Ken Combs in the Consumer Protection Division of the Insurance Commissioner’s Office for assistance. He can be reached at (206) 464-5311.
According to Insurance Brokers and Agents of the West (IBA West), the OIC also advised all policyholders and retail brokers who had Atlantic Casualty Insurance Co. policies to go to the general agents listed below for servicing their policies.
“In addition, our members should know that Pointsure is licensed to service policies with St Paul Travelers Select Accounts should you have business placed through Kenneth I Tobey,” added Angela Terry, IBA West PNW Director of Members Services. The contact for Pointsure is Lisa Gardiner, who can be reached at 206-269-8616 or by e-mailing email@example.com.
The following is a list of Atlantic Casualty Insurance Co. general agents:
American Insurance Managers, Inc. – OR
72-C Centennial Loop, Suite 120
Eugene, OR 97401
American Insurance Managers, Inc. – WA
2101 Fourth Ave., Suite 1830
Seattle, WA 98121
Anchor Bay Insurance Managers, Inc.
10049 Kitsap Mall Blvd., NW, Suite 303 (Headquarters)
Silverdale, WA 98383
Griffin Underwriting Services
1980 112th Ave., Suite 210
PO Box 3867 (Zip-98009)
Bellevue, WA 98004
WA – Wats-800-562-8095
8383 NE Sandy Boulevard, Suite 435
Portland, OR 97220
OR – Wats-866-528-2918
Ron Rothert Insurance, Inc., CMGA
7820 NE Holman, Suite B-6 (Headquarters)
PO Box 13099 (Zip-97213-0099)
Portland, OR 97218
701 Dexter Avenue N., Suite 115
Seattle, WA 98109-3017
Established in 1933 as a managing general agency, Kenneth I. Tobey at one time was a major agency in Washington’s insurance market, reporting $30 million in written premium as recently as 2005.
Was this article valuable?
Here are more articles you may enjoy.