Louisiana Producer Facing Fines, Revocation of License

July 14, 2008

A Shreveport, La., insurance producer has been arrested, issued a cease and desist order, license revocation and fine notice for alleged unfair trade practices, the Louisiana Department of Insurance announced.

Jacqueline Lee Bell, 41, was arrested by State Police and served by Department of Insurance Fraud Section Investigators at the Bossier City Correctional Facility with an order to cease and desist from conducting the business of insurance in Louisiana, revocation of her license and a $5,000 fine notice for 13 counts of unfair trade practices.

Bell’s agency, Speedy Bail Bonds, was also served an order to cease and desist all insurance business in Louisiana, revocation of license and a $5,000 fine.

It is alleged that Bell contracted with a bail bond agency to write bail bonds through it. As part of this contract, Bell was obligated to remit one-half of the premiums collected to the agency for any bonds written during this contract. Bell accepted premiums on bail bonds, but allegedly did not remit the premiums.

Department records show that Bell was issued a bail bond license in October 2004, until the current action.

Source: Louisiana Department of Insurance

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