14
Mar
11

Case Notes

According to the State of Florida Division of Agent and Agency Services the following were actual cases.  (Note:  All administrative investigations are subject to referral to the Division of Insurance Fraud for criminal investigation.) 

Case #1:   An investigation of a title insurance agent alleged that she misappropriated escrows funds, failed to forward premiums to an insurer, failed to disburse according to the HUD-1 Settlement Statement, and failed to properly reconcile the escrow account.

 Disposition:  License revoked.

Case #2:  An investigation of a title insurance agent and her agency alleged that she engaged in 3 deliberate acts of misappropriation that totaled more than $43,000 in losses to Florida consumers, failed to provide proof that a replacement surety bond had been secured, and failed to pay the annual administrative surcharge. 

Disposition:  Licenses of the title agent and agency revoked.

Case #3:  An investigation of a title insurance agent alleged that she knew or should have known that her mother was conducting the business if insurance without a license at her agency, and that she demonstrated a lack of adequate knowledge and technical competence, thereby violating the insurance code.

Disposition:  License revoked.

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Jennifer Ferri, Owner

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