DFR issues ex parte summary suspension order

The Department of Financial Regulation has issued an ex parte order for the summary suspension of a St. Johnsbury woman’s insurance producer license.
Anyone who has questions about their insurance policies are encouraged to call the DFR’s consumer help line: 1-800-964-1784 or e-mail dfr.insuranceinfo@vermont.gov.

Full text of the order

Commissioner Pieciak Interview

Michael PieciakCommissioner Michael Pieciak was interviewed recently by Joe Bergeron, president of the Vermont Association of Credit Unions. They discussed the services offered by the Department of Financial Regulation, advice for credit union leaders, the commissioner’s background and his goals for the department. Watch Commissioner Pieciak interview.

Dave Provost Interview

David Provost David Provost, deputy commissioner of the Captives Division, was interviewed by Meg Green of A.M. Best TV at the annual meeting of the Vermont Captives Insurance Association held in Burlington in August. Provost talked about the health of Vermont captive insurance companies and what DFR does to make sure captive insurance companies thrive in Vermont. A.M.

Vermont named top domicile for captive insurance in the U.S.

Captive ExaminersThe state of Vermont has again been named the top domicile for captive insurance in the United States. This is the fourth time Vermont has been honored with this award, which was presented by Captive Review Magazine at the Captive Service Awards held in Burlington on August 8, 2016.

Fraud of the Week

Insuring Agent Fraud–California

Amount: Unknown

Arraignment has been set for a former California insurance broker who has been charged in a decade-long automobile insurance scheme. The ex-insurance agent in Los Angeles was charged with one misdemeanor count for transacting insurance without a license. After receiving a complaint from one of the affected clients, an investigation was implemented by the California Department of Insurance that revealed that the agents' license had expired in 2002 and she had failed to renew her license while continuing to pose as an insurance broker. 

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