A former Oklahoma insurance agent has received a five-year suspended sentence and a $2,500 fine for selling insurance without a license. Preston Chadwick Henson, 44, was convicted of the felony after entering a no contest plea in Kingfisher County.
The Oklahoma Insurance Department (OID) began investigating Henson in 2013 after a complaint by an insurance company.
In January 2014, that same company received a call from a concerned customer visited by Henson. The customer called to verify a transaction handled by Henson in which her insurance policy was canceled and replaced with a new policy from another carrier. After determining the transaction was illegal, Henson was arrested and charged. The cancellation of the policy would have cost the consumer over $12,000 in lost return of premium.
Henson, of Tulsa, will serve the first two years of his sentence under the supervision of the Department of Corrections. Henson’s insurance license renewal was denied in Feb. 2013 due to providing incorrect, misleading, incomplete or materially untrue information in the license application.
Source: Oklahoma Insurance Department
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