Utah Agent Charged with Pocketing Premiums

July 25, 2006

Ryan Webb, a Salt Lake County, Utah, insurance agent, was charged with insurance fraud, a second degree felony, unlawful dealing by a fiduciary, a second degree felony, theft by deception, a second degree felony, and forgery, a third degree felony.

Webb, an agent with Brighton Insurance Group Inc. of Sandy, Utah, allegedly sold a business insurance policy to the owner of Pinky’s Bar. After a fire loss, the victim filed a claim with Auto-Owners Insurance, but was informed that he had no policy.

Webb had prepared and provided forged insurance binders to the victim purporting they were the authorized and legitimate policies, according to the Utah Insurance Department. He regularly picked up premium checks from the victim and had asked that the checks be written directly to him “for convenience at the bank.” Webb allegedly collected more than $20,000 in premium checks that were never forwarded to the insurance company, the department said.

Source: UID

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