The Louisiana Department of Insurance shut the doors of Banner Insurance Agency Inc. at two Baton Rouge locations, according to Commissioner of Insurance Robert Wooley.
The Louisiana State Police Insurance Fraud Unit executed a search warrant and closure of the doors of the Banner Insurance Agency at 5559 Plank Road and 5515 South Sherwood Forest Boulevard in Baton Rouge. At the same time, LDI fraud investigators issued a Cease and Desist Order and a summary suspension of the Banner Insurance Agency Inc. agency license. The investigation is continuing.
The department’s C&D order alleges that the agency was in violation of three state laws contained in the Louisiana Insurance Code, with charges ranging from financial irresponsibility in the conduct of business, to misrepresentation of the insurance contract, to presentation of a false written statement related to an insurance policy.
Department of Insurance records show that the Banner Insurance Agency Inc. has businesses at these two locations and has held a property and casualty insurance license since 1979.
“Today’s action was just the latest in an extended series of investigations carried out across the state by the Louisiana Insurance Fraud Task Force,” Wooley said. The Task Force is composed of the Department of Insurance Fraud Unit, the State Police Insurance Fraud Unit and the Attorney General’s Insurance Fraud Support Unit.
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