BREAUX BRIDGE, La. — The Louisiana Department of Insurance has issued Cease and Desist Orders and fines to two St. Martin Parish insurance producers for alleged misappropriation of premium funds.
According to a release from LDI, Tasey Ann Tolliver-Alexander is alleged to have misappropriated an insurance premium in 2019.
According to investigators, Tolliver-Alexander also was engaged in the business of insurance with an expired license. Records from the insurer indicate that payment was never forwarded resulting in said policy being canceled.
Vincent Alexander, the owner of the Vincent Alexander Insurance Agency and the husband of Tasey Ann Tolliver-Alexander, was also issued a cease and desist order as well as a summary suspension and revocation of his producer’s license for failure to adequately supervise the activity of Tolliver-Alexander, the release states.
Tolliver-Alexander and Alexander have 30 days from the time of service to request an administrative appeal or the above actions will become final.
Alexander and Tolliver-Alexander have conducted business under the name Vincent Alexander Insurance Agency.
Individuals or businesses with information regarding this case or other insurance-related activities are encouraged to report these matters to the LDI Division of Fraud and Enforcement by calling (225) 342-4956 or 1-800-259-5300.
Vincent Alexander issued the following statement:
The Commissioner of Insurance of the State of Louisiana will soon release information regarding the suspension of my insurance business operations. The action results from the improper activities and violations by an employee in my office of provisions of the Louisiana Insurance Code. As owner and operator, I only became aware of these violations when complaints by insurance clients were brought to my attention. Until that time, I had no knowledge that the employee was engaged in the improper activities and violations of the insurance codes.
Throughout my 30-year career as an insurance company executive, I've run a wholesome and productive insurance company, free of complaints by insurance clients and free of any citations by the Commissioner of Insurance-until the actions by the employee. The employee in question has admitted to the wrongdoing and will sign a statement confirming that I, as owner, knew nothing about her egregious activities.
I'm obviously disappointed that a person in whom I placed my trust has placed my business in jeopardy-a business I spent 30 years developing. More importantly, the improper actions of one employee now threaten to tarnish my reputation as a successful businessman, a reputation I spent my entire adulthood building up.
As owner of Vincent Alexander Insurance Agency, I apologize to our clients who may have been harmed by the actions of my employee. I will continue to work with the office of the Commissioner of Insurance to bring these matters to resolution.
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