Fla. Agent Surrenders License

June 23, 2003

A Cocoa, Fla.-area agent surrendered her insurance license following charges by the Florida Department of Financial Services that she misappropriated premium funds. According to the department, it filed an administrative complaint alleging that Gabrielle Shockey, 34, sold insurance policies to at least eight individuals and then failed to send premium payments to the insurance companies.

Shockey was the owner of Ammediate Insurance Company, also known as AIC Insurance Services. The department noted that in failing to submit premium payments to the insurance companies, Shockey jeopardized her clients’ insurance coverage, by either allowing policies to lapse or by never obtaining coverage.

One consumer, who thought he had purchased auto insurance through Shockey, was involved in an automobile accident. He incurred more than $4,000 in medical bills and more than $1,600 in rental car expenses, which have not been paid. In addition, his driver’s license was suspended for failing to maintain automobile insurance. It has since been reinstated.

Shockey had been licensed as a general lines property and casualty agent since 2001.

Consumers are advised to obtain and safeguard policy documents as proof of coverage. In addition, consumers should never make checks payable to their insurance agent or agency but rather to the insurance company. Questions about agents or insurance policies may be directed to the Department of Financial Services’ toll-free helpline at (800) 342-2762.

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