The Office of the Commissioner of Insurance (OCI) in Wisconsin has issued an order for the summary suspension of the license of insurance agent Thomas Mikunda, 53, of Exeland.
Mikunda’s suspension stems from allegations of improper insurance marketing practices involving insurance sales to the elderly. Mikunda denied the allegations, and will reportedly contest the allegations in an administrative hearing.
Mikunda allegedly falsified applications for annuity, life, and Medicare supplement insurance policies, pocketed and failed to remit consumers’ premium payments, misrepresented the nature of the insurance sold to clients, and made unsuitable sales to clients.
The Commissioner alleges that Mikunda employed a number of schemes to conceal his actions, including falsifying memos on checks and attempting to persuade consumers to withhold unfavorable testimony from investigators. The order alleges that many of these practices were directed to elderly clients.
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