The Louisiana Department of Insurance reported that a former Monroe life insurance producer was issued a cease and desist order, license revocation and fine notice for alleged misappropriation of insurance premiums.
Doc Edward Ward, Sr., 41, was served with an order to cease and desist from conducting the business of insurance in Louisiana, revocation of his license and a $2,500 fine notice for allegedly failing to remit to an insurance company more than $4,000 in premiums he collected from 84 persons between June and December 2006. The amount owed to the company also reflects checks Ward wrote that were returned for insufficient funds, the department said.
Department records show that Ward was issued an individual producer license in June 2006, which lapsed in April 2008 and was not reinstated.
Source: Louisiana Department of Insurance
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