Louisiana Insurance Agent Accused of Misappropriating Premiums

A Vidalia, La., insurance agent has been issued a cease and desist order, license revocation and fine notice for alleged misappropriation of insurance premiums.

William Christopher Jackson, 38, was served by Department of Insurance Fraud Section Investigators twith an order to cease and desist from conducting the business of insurance in Louisiana, revocation of his license and a $3,000 fine notice. Jackson allegedly failed to remit to an insurance company $3,061.70 in premiums he collected between September and November 2008, the department said.

A bond on deposit in the amount of $1,622.65, including interest was applied to the outstanding balance owed the company, leaving Jackson indebted for the sum of $1,419.23.

Department records show that Jackson was issued an Industrial Fire license and a Home Service license in February 2007, both of which were valid until the current action.

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