A Lake Charles, Louisiana insurance producer was issued a cease and desist order and a summary suspension of his insurance license for allegedly engaging in fraudulent and dishonest insurance practices, Insurance Commissioner Robert Wooley has announced.
Department of Insurance Fraud Unit investigators served John Steven Blount, 44, business address: 4521 N. Highway 171, Lake Charles, with the c&d and summary suspension order.
The Department of Insurance order states that Blount is prohibited from engaging in any activity relating to the business of insurance, effective immediately. Charges against him include misrepresenting the terms of insurance contracts involving variable annuities and falsifying information on his insurance license application.
Insurance Department records show that Mr. Blount was issued a life, health & accident insurance license in 1991 and a variable annuity license in 1993. Both licenses remained in effect until the suspension of the license was served.
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