A Houma, La., area insurance agent has been served with a cease and desist order, notice of license revocation and $5,000 fine for alleged misappropriation of premiums, the Louisiana Department of Insurance announced.
Al Patrick Boudreaux, Jr., 27, is alleged to have collected from insureds $11,336 in life insurance premiums, which he failed to remit to the company. Part of this amount has been repaid to the company, leaving Boudreaux currently owing $10,318.
Department records show that Boudreaux held an Industrial Fire license from March 2003 through April 2009. He was also issued a Home Service license in April 2003, which was valid until the current action.
Source: Louisiana Department of Insurance,
Was this article valuable?
Here are more articles you may enjoy.
Electric Bills in Coal Country West Virginia Now Top Mortgage Payments 
AI for the Defense: Should Insurers or Law Firms Pay? 
State High Court Weighs in on Woman Taken for Organ Donation But Was Still Alive 
Marsh Aims to Be ‘AI Winner’ by Focusing on Gains in Growth, Productivity, Efficiency 
