La. Agent Accused of Premium Theft

The Louisiana State Police has served cease and desist orders, and fine notices, to a Metairie, La., insurance agent and his agency for alleged misappropriation of insurance premiums.

The Louisiana Department of Insurance reported that Robert Emery and Student Insurance Inc. were both issued C&Ds and $5,000 fine notices by Department of Insurance Fraud Section investigators for allegedly failing to remit insurance premiums.

It is alleged that after Hurricane Katrina, Emery told several clients that their premium payment checks were lost in the storm. At least three schools and other organizations reissued premium payments to Emery who did not remit them to the company and as a result the clients did not receive policies.

Department records show that Emery was licensed for accident, health and life insurance from Oct. 8, 1973, through Apr. 30, 2006, and Student Insurance Inc. was licensed for accident, health and life insurance from Apr. 24, 1973, through Apr. 30, 2006, with the Department of Insurance. Emery is listed as the registered agent and president of Student Insurance Inc.

Source: Louisiana Department of Insurance, www.ldi.state.la.us