N. Y. Dept. Revocations Of Producers' Licenses Result From Failure To Remit Premiums, Lowballing.

PositionINSURANCE ADVOCATE - 25 YEARS AGO [LOOKING BACK]

The licenses of 14 New York insurance brokers and agents have been revoked by the New York Insurance Department, most of them after disciplinary hearings, but ome by stipulation in which the producers agreed to the revocation action.

The department also assessed fines against producers amounting to a total of approximately $60,000, but the number was influenced by a fine amounting to $50,000.

In its disciplinary release dated April 18, the department reported the following revocations which followed hearings.

Dagoberto Cabral, an agent and broker in Mount Vernon, was convicted of con piracy to distribute cocaine and of falsely reporting an incident. in addition, the department said that insurance applications submitted to the New York Automobile Insurance Plan while Gabral was in prison, listed his name as producer of record.

FRR Brokerage, Inc., a broker located in the Bronx and the firm's sublicensee, Judith Rivera, of Riverdale, issued premium checks that were dishonored. Not all of them were replaced. The department aid Rivera disregarded the NY AIP rating manual and engaged in lowballing, making low premium estimates on applications for competitive purposes.

Chris Gedney, an agent in Mahopac Falls, violated the insurance law when he endorsed and deposited into his personal account, checks forwarded to him as cash surrender value of life policies for two clients. He failed to remit the money to his clients.

Adrian F. Goen, a broker in Flushing, engaged in low balling, had been decertified by the NY AIP for this activity. In addition, the department said, Goett collected premiums and failed to forward them to the appropriate insurer. The department said he also used an unlicensed trade name in conducting busines. He was also cited for comingling premium with other funds.

Robin F. Golub, a broker in Monsey, failed to respond to the department's request for additional information in connection with a statement on her license renewal application. that he had been involved in a bankruptcy.

Ana T. Gonzalez of Woodside, collected premium payments, issued temporary automobile ID cards, but failed to forward premiums to the appropriate insurer. She also maintained a premium account under an unlicensed name, the department said.

Peter Gunnan, an agent and broker of Brooklyn. had been decertified by the NY AIP for numerous violations of rules, was also found by the department to have collected premiums and failed to forward them 10 the appropriate...

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