Released: April 12, 2005

A Lafayette area insurance producer was arrested and issued a cease and desist order today for allegedly misappropriating insurance funds, Commissioner of Insurance Robert Wooley has announced.

Department of Insurance Fraud Unit investigators served Audrey Thibodeaux Davis (45) with a cease and desist order and summary suspension of all insurance licenses at the time she was arrested by the State Police Insurance Fraud Unit. Ms. Davis is charged with allegedly misleading life insurance policyholders into signing cash surrender forms by falsely stating that the signature was needed to obtain a new or duplicate policy or a benefits document. The c&d further states that Ms. Davis intercepted the checks generated by the bogus cash surrender forms, forged the endorsements and deposited a total of over $11,000 into her personal bank account through the use of this scheme.

Department of Insurance records show that Ms. Davis held life and health and property and casualty insurance licenses from 2001 until today's action. Department records list her address as 484 Thelma Drive, Sunset, La.

"This sort of fraudulent activity serves as a reminder that you should never sign insurance forms without first closely reading and fully understanding exactly what you are signing," Commissioner Wooley says.

Wooley also urges consumers who feel uneasy about any insurance-related transaction to call the Department of Insurance Fraud Unit at 225-342-4956. If callers don't want their names used, they can request that their involvement be kept confidential.

-30-