Okla. Agent’s License Suspended Over Marketing Plan

August 26, 2003

Oklahoma Insurance Commissioner Carroll Fisher suspended the license of a Tulsa insurance agent accused of misleading new homeowners into purchasing coverage they are not required to carry.

Gary Kroll’s license was suspended after it was alleged he sent cards to homeowners that appeared as if they were from their mortgage company. The cards were sent in an effort to sell credit life insurance.

Numerous people have contacted the Oklahoma Insurance Department with complaints concerning the unauthorized use of the names of several financial institutions.

In addition to the unauthorized use of names, Kroll is alleged to have used companies not licensed by the OID in his plan. In addition to the order suspending Kroll’s license, Fisher issued an order prohibiting those companies from acting in any sort of insurance-related capacity.

“It is a shame Mr. Kroll felt he had to resort to deception to sell his insurance product,” Fisher said. “There are proper ways to sell this type of insurance. Oklahomans have the right to expect their insurance agents to be straightforward.”

Fisher’s order gives Kroll 30 days to request a hearing before an independent administrative law judge.

Was this article valuable?

Here are more articles you may enjoy.