New York State
Insurance Department
 

DISCIPLINARY ACTIONS


New York, December 22, 1997

The following tables show the Licensee in Column One,  Address in Column Two, and the Penalty in Column Three.  The bottom row of each table describes the circumstances.  

 Insurance Companies

STIPULATIONS

Disciplinary actions as a result of stipulations have been agreed to by the licensees. 

LICENSEE ADDRESS PENALTY
The Equitable Life Assurance Society of the United States

Equitable Variable Life Ins. Co.

1290 Avenue of the Americas
New York, NY

same as above

$450,000 fine
The companies violated the Insurance Law and Department regulations, including Regulation 60, when they failed to comply with disclosure requirements for life insurance applications involving internal replacements. In addition, both companies entered into servicing agreements with affiliate companies without notifying the Insurance Department. Equitable Life Assurance also failed to pay interest on cash surrenders made from July 1, 1986 through December 31, 1991 and failed to make corrective interest payments as per an agreement with the Department. In addition, Equitable Life Assurance exceeded its new annuity business limitation in 1994.

Equitable Variable Life Insurance Company merged into the Equitable Life Assurance Society of the United States effective January 1, 1997.

 

LICENSEE ADDRESS PENALTY
Progressive Casualty Ins. Co.


Progressive Specialty Ins. Co.


National Continental Insurance Co.

United Financial Casualty Co.

6300 Wilson Mills Rd.Mayfield Heights, OH

same as above


same as above


same as above

$68,820 fine


$20,650 fine


$19,410 fine


$14,720 fine

Market conduct investigations revealed that the companies, members of the Progressive Group, violated the Insurance Law and Department regulations when in connection with certain automobile insurance policies issued or renewed between March 1,1995 and February 29, 1996, they did not pay or deny claims in a timely manner. In addition the companies failed to send follow-up certification of repair forms in a timely manner. They failed to notify insureds of their reimbursement rights for transportation expenses and used incorrect figures in calculating the value of stolen or totaled vehicles. The companies also failed to make reports to the National Insurance Crime Bureau in a timely manner.

In addition, Progressive Casualty, Progressive Specialty and National Continental Ins. Cos. failed to properly calculate the interest on overdue benefits.

The companies have agreed to review all total theft loss payments made between March 1, 1996 and September 15, 1997 and correct any underpayments on book values.

  

LICENSEE ADDRESS PENALTY
First North American Life Assurance Co. 555 Theodore Fremd Ave.
Rye, NY
$40,000 fine
The company violated the Insurance Law when it failed to maintain books of account with respect to 1994 reserves and failed to pay intercompany expenses as per a filed service agreement. The company also failed to properly pay interest on death claims, failed to follow the provisions in its variable annuity contract with regard to surrender charges and market value adjustment changes, and failed to have its Board of Directors approve the criteria for determining the excess interest rate over the minimum guaranteed rate on fixed annuity contracts.

  

LICENSEE ADDRESS PENALTY
Yasuda Fire and Marine Ins. Co. of America 2 World Financial Center
New York, NY
$19,350 fine
A market conduct investigation revealed that the company violated the Insurance Law and Department regulations when, in connection with certain commercial multiple peril and general liability policies issued or renewed between January 1, 1996 and December 31, 1996, it failed to use filed rates. The company also exceeded flex-rating limitations, failed to send out cancellation and nonrenewal notices in a timely manner, and failed to document the particular reasons supporting the credit or debit for rating a particular risk.

The company has agreed to review and rerate all commercial multiple peril and general liability policies in force as of December 1, 1997 in New York as they come up for renewal and to refund any overcharges of more than $15.

 

LICENSEE ADDRESS PENALTY
CU Life Insurance Company of New York 100 Corporate Parkway
Amherst, NY
$15,000 fine
The company violated the Insurance Law when it used policy forms that had not been approved by the Department. In addition, CU Life failed to immediately notify insurers that their policies were being replaced.

  

LICENSEE ADDRESS PENALTY
National Integrity Life Ins. Co. 515 West Market St.
Louisville, KY
$15,000 fine
The company violated the Insurance Law by failing to maintain its corporate documents, including by-laws and board of director and sub-committee minutes, at its principal office. In addition, the company failed to maintain sufficient details on how expenses were allocated between the member companies of its holding company system.

The company has agreed to submit to the Department by January 31, 1998, a new method of expense allocation between the companies of its holding company system.

  

LICENSEE ADDRESS PENALTY
Worcester Insurance Company 120 Front St.
Worcester, MA
$6,500 fine
A market conduct investigation revealed that the company violated the Insurance Law when, in 1995, it exceeded the maximum permissible number of nonrenewals of private passenger automobile insurance policies. A company is only allowed to nonrenew up to 2% of its business in any given territory. Worcester has agreed to restrict 1998 nonrenewals to make up for the excessive 1995 nonrenewals.

  

LICENSEE ADDRESS PENALTY
The Alliance Mutual Insurance Co. P.O. Box 270
Albion, NY
$4,400 fine
A market conduct investigation revealed that the company violated the Insurance Law and Department regulations when, in connection with certain commercial multiple peril insurance policies issued or renewed between January 1, 1992 and December 31, 1995, it failed to pay claims in a timely manner. In addition, the company failed to specify reasons on cancellation notices and failed to send refunds directly to insureds when canceling policies. The company also failed to substantiate physical changes in insured properties when canceling policies that had been in effect for over 60 days.

 

 Agents, Brokers, Adjusters, Consultants and Others

HEARINGS

Disciplinary actions as a result of Department hearings are subject to judicial review and possible stay of enforcement.  

LICENSEE ADDRESS PENALTY
Ahmed, Riaz
   (agent)
466 54th St.
Brooklyn, NY
License revoked
Ahmed endorsed two premium refund checks payable to insureds and wrongfully availed himself of the proceeds.

  

LICENSEE ADDRESS PENALTY
Astacio-Santos, Andres
   (broker)
330 Audubon Ave.
New York, NY
License revoked
Violated the Insurance Law when he submitted an automobile insurance policy to the New York Automobile Insurance Plan that contained false information concerning the principal operator of the vehicle. In addition, Astacio-Santos falsely certified the Driver Verification Form.

  

LICENSEE ADDRESS PENALTY
Apelis, George I.
   (broker)
479 South Broadway
Hicksville, NY
License revoked
Allowed unlicensed individuals to conduct insurance business. In addition Apelis allowed an individual whose license had been revoked to conduct business from his office. The Department's decision has been stayed pending an Article 78 proceeding.

  

LICENSEE ADDRESS PENALTY
Bryce, Joshua I.
   (agent)
888 7th Ave.
New York, NY
License revoked
Failed to pay a $2,000 fine in connection with a Regulation 60* violation.

  

LICENSEE ADDRESS PENALTY
Buhrandt, Harold C.
   (agent)
405 Bellmore Rd.
East Meadow, NY
License revoked
Submitted five fraudulent life insurance applications to an insurer.

  

LICENSEE ADDRESS PENALTY
Cheng, Donald
   (agent)
46-65 158th St.
Flushing, NY
License revoked
Issued a premium check that was dishonored by the bank and never replaced; and failed to account for a premium collected from an insured. In addition, Cheng was decertified by the New York Automobile Insurance Plan for various violations of Plan rules.

  

LICENSEE ADDRESS PENALTY
Coaxum, Joanne V.
   (agent)
500 Rowlinson Dr.
Shirley, NY
$250 fine
Coaxum failed to furnish requested documents to the Insurance Department as part of the Department's investigation into an alleged incident.

  

LICENSEE ADDRESS PENALTY
DeJesus, Ramona A.
   (broker)
t/b/a Cibao Insurance Brokerage
39-05 108th St.
Corona, NY
License revoked
Issued premium checks that were dishonored by the bank and allowed an unlicensed person to conduct insurance business. In addition, DeJesus was decertified by the New York Automobile Insurance Plan for various violations of Plan rules.

  

LICENSEE ADDRESS PENALTY
Dona Jr., Frederick V.
   (agent)
7031 Highfield Rd.
Fayetteville, NY
License revoked
Dona pled guilty to making a false statement in an Employee Retirement Income Security Act (ERISA) document in connection with funds he transferred on behalf of a client.

  

LICENSEE ADDRESS PENALTY
Edelstein, Gordon R.
   (agent)
43 Delaware Ct.
Coram, NY
License revoked
Collected a service fee without obtaining a signed service fee agreement.

  

LICENSEE ADDRESS PENALTY
Ferro, Guillermo
   (agent)
47-26 98th Place
Corona, NY
License revoked
Ferro was decertified by the New York Automobile Insurance Plan for issuing premium checks that were dishonored by the bank and for furnishing automobile insurance identification cards without following up on the applications.

 

LICENSEE ADDRESS PENALTY
Fultz, Jeffrey D.
   (agent)
10931 Laureate Dr.
San Antonio, TX
License revoked
Fultz's insurance agent's license was suspended by the Oklahoma Department of Insurance. Fultz failed to respond to Department inquires for additional information.

  

LICENSEE ADDRESS PENALTY
Gartner, Linda M.
   (broker)
241-20 S. Conduit Ave.
Rosedale, NY
License revoked
Issued a premium check that was dishonored by the bank and misappropriated premium payments. In addition, Gartner issued New York Automobile Insurance Plan insurance identification cards without submitting the corresponding applications.

  

LICENSEE ADDRESS PENALTY
Han, James T.
   (broker)

Park, Eunchang
  (broker)
t/b/a Shin Han Insurance Agency

36-34 Union St.
Flushing, NY

same as above

License revoked


$100 fine

Han was decertified by the New York Automobile Insurance Plan for various violations of Plan rules. Park failed to notify the Insurance Department of a change of address.

  

LICENSEE ADDRESS PENALTY
Hicks, Andrew J.
   (agent & broker)
280 Broadway
Yonkers, NY
Licenses revoked
Issued a premium check that was dishonored by the bank and never replaced; and collected premiums and failed to forward them to the appropriate insurers. In addition, Hicks issued Change of Broker forms and signed automobile insurance applications without his clients' knowledge. He also misrepresented an insured's coverage to the Department of Motor Vehicles and altered the amount payable on a check given him by one of his clients. Hicks also conducted insurance business under several unlicensed names.

  

LICENSEE ADDRESS PENALTY
Ioinovitch, Nathan
   (agent)
825 E. 9th Street
Brooklyn, NY
License revoked
Ioinovitch was decertified by the New York Automobile Insurance Plan for various violations of Plan rules. In addition, Ioinovitch collected premiums and failed to forward them to the appropriate insurers and commingled premiums with other funds. He also conducted insurance business under unlicensed names.

  

LICENSEE ADDRESS PENALTY
Kanner, Alan
   (agent)
3 Sadore La.
Yonkers, NY
License revoked
Kanner made unauthorized requests for policyholder surrender withdrawals and forged signatures on death benefit claims. He then used the proceeds for his own purposes.

  

LICENSEE ADDRESS PENALTY
Martz, Joseph
   (agent & broker)
36-20 164th St.
Flushing, NY
Licenses revoked
Permitted an individual whose license had been revoked to conduct his insurance business.

  

LICENSEE ADDRESS PENALTY
Maydwell Insurance Agency, Inc.
   (broker)

Maydwell, Daniel D.
   (broker & sublicensee)

524 E. 240th St.
Bronx, NY


737 Main St.
New Rochelle, NY
License revoked


Licenses revoked

Issued premium checks that were dishonored by the bank and never replaced. In addition, Daniel Maydwell was decertified by the New York Automobile Insurance Plan for various violations of Plan rules.

  

LICENSEE ADDRESS PENALTY
Means, Patricia A.
   (agent)
200 E. Court St.
Kankakee, IL
License revoked
Submitted three fraudulent life insurance applications to an insurer.

  

LICENSEE ADDRESS PENALTY
Mechlenburg, Birgit
   (agent)
4 Tree Top La.
Poughkeepsie, NY
License revoked
The Securities and Exchange Commission barred Mechlenburg from transacting securities dealings after she misappropriated funds from an investment club she organized while a licensed securities dealer. She failed to respond to Department inquiries for additional information.

 

LICENSEE ADDRESS PENALTY
Mendola, Paul C.
   (agent)
145 Glenmere Way
Holbrook, NY
License revoked
Pled guilty to petit larceny in connection with collecting premium payments and failing to forward them to the appropriate insurer. In addition, Mendola was decertified by the New York Automobile Insurance Plan for various violations of Plan rules.

 

LICENSEE ADDRESS PENALTY
Mensah, Kwame B.
   (agent)
730 Oakland Pl.
Bronx, NY
License revoked
Collected premium payments and failed to forward them to the appropriate insurer in a timely manner or at all. In addition, Mensah was decertified by the New York Automobile Insurance Plan for various violations of Plan rules.

  

LICENSEE ADDRESS PENALTY
Merlo, Terry M.
   (agent)
66 Main St.
Pine Bush, NY
License revoked
Merlo failed to respond to Department inquiries for additional information after indicating on his license renewal application that he had filed for bankruptcy.

  

LICENSEE ADDRESS PENALTY
Meza, Deogene
   (agent)
1482 York Ave.
New York, NY
License revoked
Submitted three fraudulent life insurance applications to an insurer.

  

LICENSEE ADDRESS PENALTY
Naithani, Kavita
   (agent)
23-13 Steinway St.
Astoria, NY
License revoked
Submitted 29 fraudulent life insurance applications to an insurer.

  

LICENSEE ADDRESS PENALTY
Paredes, Reynaldo
   (agent)
1692 Webster Ave.
Bronx, NY
License revoked
Commingled premiums with other funds. In addition, Paredes collected premiums and failed to forward them to the appropriate insurer. He was also decertified by the New York Automobile Insurance Plan for various violations of Plan rules.

  

LICENSEE ADDRESS PENALTY
Rinehart Agency
   (broker)

Rinehart, David W.
   (agent, broker & sublicensee)
t/b/a Rinehart Insurance

203 Bedell Ave.
Clintondale, NY

Box 152 Bedell Ave.
Clintondale, NY

License revoked


Licenses revoked

David Reinhart was convicted of offering a false instrument for filing in the second degree in connection with altering a power of attorney form without the client's knowledge. In addition, Rinehart endorsed checks made payable to another and deposited them into his own personal account.

  

LICENSEE ADDRESS PENALTY
Rosas, Anthony
   (agent)
25-19 77th St.
East Elmhurst, NY
License revoked
Submitted nine fraudulent insurance applications to an insurer.

  

LICENSEE ADDRESS PENALTY
Santoro, Peter M.
   (agent)
61 University Heights Dr.
Stony Brook, NY
License revoked
Santoro failed to respond to Department inquiries for additional information after indicating on his license application that he had filed for bankruptcy.

  

LICENSEE ADDRESS PENALTY
Signorelli, Paul A.
   (agent)
261 Madison Ave.
New York, NY
License revoked
Signorelli was disbarred as an attorney for misappropriation of funds. He continued to act as an attorney despite being disbarred.

  

LICENSEE ADDRESS PENALTY
Stephens, Walt
   (agent & broker)
1444 Olmstead Ave.
Parkchester Station, NY
Licenses revoked
Issued a premium check that was dishonored by the bank and never replaced.

  

LICENSEE ADDRESS PENALTY
Theisen-Inzone, Doris M.
   (agent)
10 W. Broadway
Long Beach, NY
License revoked

Theisen-Inzone responded falsely on her licensing renewal application when asked about criminal convictions. In fact, she had been convicted of submitting false statements on a loan application.

 

LICENSEE ADDRESS PENALTY
Waters, Jonathan E.
   (agent)
31 Arlmont St.
Kingston, NY
License revoked
Issued premium checks that were dishonored by the bank, only one of which was replaced. In addition, Waters commingled premiums with other funds and was convicted of criminal possession of a controlled substance.

 

 STIPULATIONS

Disciplinary actions as a result of stipulations have been agreed to by the licensees.   

LICENSEE ADDRESS PENALTY
Ambarina Brokerage, Inc.
   (broker)

Feliz, Kenneth A.
   (broker & sublicensee)

Feliz, Randolph K
   (broker & sublicensee).

3 East Tremont Ave.
Bronx, NY

same as above


same as above

$2,500 fine
All three were decertified by the New York Automobile Insurance Plan for various violations of Plan rules. In addition, unlicensed individuals were permitted to conduct insurance business.

  

LICENSEE ADDRESS PENALTY
Arrascue, Cesar O.
   (agent & broker)
68 Croft La.
Smithtown, NY
$7,500 fine
Issued premium checks that were dishonored by the bank, but subsequently replaced. In addition, Arrascue conducted insurance business under an unlicensed name and was decertified by the New York Automobile Insurance Plan for various violations of Plan rules.

  

LICENSEE ADDRESS PENALTY
Audley, Robert
   (agent)
4165 Gemini Path
Liverpool, NY
License revoked
Collected premium payments and failed to forward them in a timely manner to the appropriate insurer. In addition, Audley conducted insurance business under an unlicensed name.

  

LICENSEE ADDRESS PENALTY
Beltre, Paquita M.
   (broker)
5524 4th Ave.
Brooklyn, NY
$500 fine
Violated the Insurance Law when her premium account was overdrawn on numerous occasions.

  

LICENSEE ADDRESS PENALTY
Benzinger, Lisa J.
   (agent)
5094 Abbott Rd.
Hamburg, NY
$1,000 fine
Forged two payroll deduction authorization cards without her client's permission and forged and submitted an insurance application.

  

LICENSEE ADDRESS PENALTY
Biscardi, Carmine A.
   (agent & broker)
2400 Pendroy St.
East Meadow, NY
$1,003 fine

Violated Regulation 60* when he placed a life insurance policy with Prudential Life Insurance Company of America.

 

LICENSEE ADDRESS PENALTY
Bolanos, Luis A.
   (broker)
268 Jamaica Ave.
Brooklyn, NY
$1,000 fine
Failed to complete a Driver Verification Form as required and conducted insurance business under an unlicensed name.

  

LICENSEE ADDRESS PENALTY
Campo, Frank A.
   (agent)
838 Wilcox Ave.
Bronx, NY
$1,000 fine
Issued premium checks that were dishonored by the bank, but subsequently replaced. In addition, Campo commingled premiums with other funds.

  

LICENSEE ADDRESS PENALTY
Ciminera, Daniel F.
   (broker)
P.O. Box 129
Glen Cove, NY
$1,000 fine
Issued premium checks that were dishonored by the bank, but subsequently replaced.

  

LICENSEE ADDRESS PENALTY
Diaz, Mirtha C.
   (broker)
1815 Morris Ave.
Bronx, NY
$500 fine
Submitted a signed Driver Verification Form that listed an operator who denied knowing the applicant.

 

LICENSEE ADDRESS PENALTY
Espin, Ana
   (broker)
t/b/a Xanadu Brokerage
227 East 167th St.
Bronx, NY
$2,500 fine
Issued premium checks that were dishonored by the bank, but subsequently replaced. In addition, Espin commingled premiums with other funds.

  

LICENSEE ADDRESS PENALTY
Eugene J. Donohue, Inc.
   (agent)

Donohue, Eugene J.
   (agent & sublicensee)

662 Main St.
Port Jefferson, NY

443 Miller Place Rd.
Miller Place, NY

$1,000 fine
On his licensing renewal application, Donohue failed to list pending actions for driving while intoxicated, manslaughter, and criminally negligent homicide.

  

LICENSEE ADDRESS PENALTY
Delta Insurance Agency
Services, Inc.
   (agent & broker)

Petsiavas, Kostas
   (sublicensee)

30-93 31st St.
Astoria, NY
$2,500 fine
Forged insureds' names on Change of Broker request forms.

  

LICENSEE ADDRESS PENALTY
GAB Robins North
America, Inc.
   (independent adjuster)

MacArthur, Thomas C.
   (independent adjuster
    & sublicensee)

McGee, James A.
   (independent adjuster
    & sublicensee)

9 Campus Dr.
Parsippany, NJ


12 Butternut Rd.
Randolph, NJ


20 Fawn Hill Ct.
Ramsey, NJ

$8,900 fine
Allowed an unlicensed person to conduct insurance business.

  

LICENSEE ADDRESS PENALTY
Garcia, Xavier J.
   (broker)
4414 4th Ave.
Brooklyn, NY
$1,840 fine
Garcia was decertified by the New York Automobile Insurance Plan for various violations of Plan rules.

  

LICENSEE ADDRESS PENALTY
Hillowe, Scott G.
   (agent)
170 Cedar Dr.
Massapequa, NY
$1,561 fine

Violated Regulation 60* when he placed a life insurance policy with Prudential Insurance Company of America.

 

LICENSEE ADDRESS PENALTY
Joseph, Ulric E.
   (agent & broker)
2720 Farragut Rd.
Brooklyn, NY
$3,000 fine
Issued premium checks that were dishonored by the bank, but subsequently replaced. In addition, Joseph failed to forward the full premium to the appropriate insurer and commingled premiums with other funds.

  

LICENSEE ADDRESS PENALTY
Levy, Benjamin
   (agent & broker)
825 Middle Neck Rd.
Great Neck, NY
$2,000 fine
Failed to forward an insurance premium to the appropriate insurer.

  

LICENSEE ADDRESS PENALTY
LRF and Associates, Inc.
   (agent)

Faiola, Louis R.
   (agent & sublicensee)
2A Halfmoon Executive Park
Clifton Park, NY

140 East Ave.
Saratoga, NY

$1,931 fine
Violated the Insurance Law and Regulation 60* when they placed a life insurance policy with Prudential Insurance Company of America.

  

LICENSEE ADDRESS PENALTY
MacGregor, Raquel
   (agent)
365 Columbine Ct.
Yorktown Heights, NY
$500 fine
Failed to prepare a signed Driver Verification Form for an automobile insurance application submitted to the New York Automobile Insurance Plan.

  

LICENSEE ADDRESS PENALTY
Machado, Juan R.
   (broker)
263 South 2nd St.
Brooklyn, NY
$1,000 fine
Issued premium checks that were dishonored by the bank, but subsequently replaced.

  

LICENSEE ADDRESS PENALTY
MacKenzie, Andrew I.
   (independent adjuster)
123 William St.
New York, NY
$1,000 fine
Conducted insurance business without the appropriate license.

  

LICENSEE ADDRESS PENALTY
Magloire, Emmanuel
   (agent & broker)
92-56 215th Pl.
Queens Village, NY
$500 fine
Issued premium checks that were dishonored by the bank, but subsequently replaced. In addition, Magloire commingled premiums with other funds.

  

LICENSEE ADDRESS PENALTY
Martinez, Rafael A.
   (broker)
1348 Edward L. Grant Highway
Bronx, NY
$500 fine
Issued premium checks that were dishonored by the bank, but subsequently replaced.

  

LICENSEE ADDRESS PENALTY
Oquendo, Felix A.
   (broker)
t/b/a Oquendo's Brokerage
906 Hunts Point Ave.
Bronx, NY
$1,000 fine
Failed to prepare a signed Driver Verification Form when submitting an automobile insurance application to the New York Automobile Insurance Plan. In addition, Oquendo falsely told the New York State Department of Motor Vehicles that a customer had coverage when, in fact, she did not.

 

LICENSEE ADDRESS PENALTY
Nitti, William J.
   (broker)
420 Lexington Ave.
New York, NY
$2,500 fine
Collected premium payments and failed to forward them in a timely manner to the appropriate insurer. In addition, Nitti conducted insurance business under an unlicensed name.

  

LICENSEE ADDRESS PENALTY
Panamerican Insurance Agency
   (agent & broker)

Ramnauth, David
   (agent, broker &      sublicensee)

122-09 Liberty Ave.
Richmond Hill, NY

24 Sherwood Rd.
Levittown, NY

$3,500 fine
Both were decertified by the New York Automobile Insurance Plan for various violations of Plan rules.

  

LICENSEE ADDRESS PENALTY
Paruta, Thomas
   (agent)
8 Forsythia Ct.
Orchard Park, NY
$1,745 fine
Violated the Insurance Law and Regulation 60* when he placed a life insurance policy with Metropolitan Life Insurance Company.

  

LICENSEE ADDRESS PENALTY
Peters, Joseph Lee
   (agent)
2809 S. Lynnhaven Rd.
Virginia Beach, VA
$1,000 fine
Falsely indicated on his license renewal application that he was not subject to any administrative action when, in fact, the Alabama Insurance Department took action against him.

  

LICENSEE ADDRESS PENALTY
Raul, Shavuot J.
   (broker)
1544 41st St.
Brooklyn, NY
$2,500 fine
Raul quoted an insured an automobile insurance premium that was less than the actual premium. This practice, referred to as lowballing, occurs when an agent or broker intentionally misquotes premium information in order to undercut the competition. Although the insured's deposit reflects the quoted lower premium, the policyholder is eventually billed by the insurer for the difference.

  

LICENSEE ADDRESS PENALTY
Rivera, Bernardo
   (broker)
1195-97 East Tremont Ave
Bronx, NY
$1,500 fine
Issued premium checks that were dishonored by the bank, but subsequently replaced. In addition, Rivera commingled premiums with other funds.

  

LICENSEE ADDRESS PENALTY
Rodriguez, Marie B.
   (agent & broker)
t/b/a New Generation
 Insurance Services
923 Utica Ave.
Brooklyn, NY
$1,000 fine
Issued premium checks that were dishonored by the bank, but subsequently replaced.

  

LICENSEE ADDRESS PENALTY
Rosario, Juan O.
   (broker)
t/b/a Rosario Insurance Agency
528 North 7th St.
Allentown, PA
$1,000 fine
Issued premium checks that were dishonored by the bank, but subsequently replaced. In addition, Rosario failed to notify the Department of a change of address.

  

LICENSEE ADDRESS PENALTY
Ross, Harold K.
   (agent & broker)
521 5th Ave.
New York, NY
$500 fine
Ross submitted a Change of Broker form for an insured without the insured's authorization.

  

LICENSEE ADDRESS PENALTY
Safe Wheels Insurance Agency
   (broker)

Delgado, Francisco J.
   (agent, broker & sublicensee)
149 Hoffman Ave.
Elmont, NY

70 Maple Ave.
Floral Park, NY

$2,500 fine
Submitted applications to insurance companies that contained inaccurate information and failed to inspect properties prior to submitting applications.

  

LICENSEE ADDRESS PENALTY
S. Kornreich & Sons, Inc.
   (agent & broker)

Kornreich, Matthew R.
   (agent)

Kornreich, James D.
   (agent & broker)

Kornreich, Morton A.
   (agent & broker)

Kornreich, Thomas A.
   (agent & broker)

Kornreich, William D.
   (agent & broker)

521 Fifth Ave.
New York, NY

same as above


133 Wendover Rd.
Rye, NY

39 Club Pointe Dr.
White Plains, NY

7 Quaker La.
Chappaqua, NY

38 West 10th St.
New York, NY

$5,000 fine
Collected service fees without obtaining signed service fee agreements.

  

LICENSEE ADDRESS PENALTY
Sarasohn Adjusting Co., Inc.
   (pending public adjuster's
     license)

Sarasohn, Ira J.
   (sublicensee)

Pestcoe, Arthur
   (sublicensee)

128 Passaic Ave.
Fairfield, NJ
$500 fine
Gerald A. Doto, president and director of Sarasohn Adjusting Co., acted as a public adjuster in Florida without obtaining the required license from the Florida Insurance Department.

  

LICENSEE ADDRESS PENALTY
Shephard, Tammy T.
   (agent)
204 W. Pebble Beach Rd.
Lakeville, NY
$5,000 fine
When Shephard moved to New York, she failed to change her nonresident agent's license to a resident agent's license in a timely manner.

  

LICENSEE ADDRESS PENALTY
Strategic Benefits Management
   (agent)

Laures, Michele S.
    (agent & sublicensee)

21 North Ave.
Larchmont, NY

680 West Boston Post Rd.
Mamaroneck, NY

$500 fine
Violated the Insurance Law by offering a client a financial inducement.

  

LICENSEE ADDRESS PENALTY
Talavera, Juan A.
   (broker)
t/b/a J.T. Brokerage Co.
421 Mother Gaston Blvd.
Brooklyn, NY
$500 fine
Failed to complete a Driver Verification Form for an automobile insurance policy submitted to the New York Automobile Insurance Plan.

  

LICENSEE ADDRESS PENALTY
Tineo Insurance Agency Travel & More Corp.
   (broker)

Tineo, Nancy B.
   (broker & sublicensee)

856 New Lots Ave.
Brooklyn, NY


same as above

$500 fine
Failed to complete a Driver Verification Form for an automobile insurance policy submitted to the New York Automobile Insurance Plan.

  

LICENSEE ADDRESS PENALTY
Tramontano, Joseph
(agent & broker)
386 Vernon Ave.
Staten Island, NY
$1,000 fine
Charged service fees without obtaining signed service fee agreements.

  

LICENSEE ADDRESS PENALTY
Wasserbach, William F.
   (broker)
3 Marcus Blvd.
Albany, NY
$5,000 fine
Improperly issued Damage Liability Certificates of Insurance to three trucking firms. These forms are filed with the Department of Transportation as proof of insurance.

  

LICENSEE ADDRESS PENALTY
Williams, Herbert F.
   (agent & broker)
2 Ninth St.
New Rochelle, NY
$500 fine
Failed to complete a Driver Verification Form for an automobile insurance policy submitted to the New York Automobile Insurance Plan.

  

LICENSEE ADDRESS PENALTY
Wilson, Julius
   (broker)
4036 DeReimer Ave.
Bronx, NY
$2,500 fine
Issued premium checks that were dishonored by the bank, but subsequently replaced.

 

* Regulation 60 requires agents to provide prospective life insurance purchasers with pertinent facts when that purchase will cause the buyer to surrender, lapse, or in any way change the status of an existing life insurance policy. The agent must provide the purchaser with a disclosure statement and a notice regarding replacement of life insurance.