Idaho Insurance Agent Loses License for Failure to Handle Premiums

The Idaho Department of Insurance has revoked the license of Desiree A. Jachetta for violations of the Idaho Insurance Code.

Jachetta, a resident of Priest River, reported failed to appropriately handle clients’ premiums. In addition to revoking her license, originally issued on Sept. 18, 2001, the department has imposed a $3,000 administrative penalty.

Jachetta’s improper actions in failing to deposit received cash premiums and checks into her fiduciary account until after three months of receiving those fiduciary funds resulted in her license being revoked, according to the department.

Idaho Department of Insurance Code requires that fiduciary funds that are in the form of a check, or another negotiable instrument that is made payable to an insurer, be remitted to the insurer within the period as directed by the insurer, or, where not specified, within 21 days of receipt.

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