A Louisiana insurance agent (producer) whose licenses recently expired was issued a cease and desist order today by the Department of Insurance in the wake of his arrest on reported charges of felony theft and insurance fraud.
The arrest and cease & desist order actions were taken as part of the collaborative efforts of the Louisiana Department of Insurance Fraud Unit and the Louisiana State Police Fraud Unit, according to Louisiana Insurance Commissioner Robert Wooley.
John Hayden Hancock, 31, of Ruston (business) and W. Monroe (residence), was served with an order to cease and desist from all insurance business activities by Department of Insurance Fraud Unit investigators in today’s action.
The cease and desist order stated that Hancock unlawfully and without authority fabricated six life insurance policies. He allegedly misappropriated more than $6,000 in commissions and bonuses on these policies which were written on six persons who had no knowledge of them.
Hancock held a life and health insurance license from August 2000 to May 1, 2002, and a property and casualty license from December 1998 until May 1, 2003, according to Department of Insurance records.
Policyholders who bought insurance from John Hayden Hancock or have any reason to believe he may have submitted false insurance applications on them, whether at addresses in W. Monroe, Ruston, or other locations, should call their insurance company directly. Anyone who has difficulty reaching the insurance company can call the Louisiana Department of Insurance at (225) 342-5900, or 1-800-259-5300, from 8 a.m. to 5 p.m. weekdays for assistance.
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