Released: June 26, 2008

A former Monroe life insurance producer has been issued a cease and desist order, license revocation and fine notice today for alleged misappropriation of insurance premiums.

Doc Edward Ward, Sr., 41, was served by Department of Insurance Fraud Section Investigators today with an order to cease and desist from conducting the business of insurance in Louisiana, revocation of his license and a $2,500 fine notice for allegedly failing to remit to an insurance company over $4,000 in premiums he collected from 84 persons between June and December 2006. The amount owed to the company also reflects checks Ward wrote that were returned for insufficient funds.

Department records show that Ward was issued an individual producer license in June 2006, which lapsed in April 2008 and was not reinstated.

Commissioner Donelon urges consumers who feel uneasy about any insurance related transaction to call the Department of Insurance Fraud Section at 225-342-4956 or 1-800-259-5300. If callers do not want their names used, they can request that their involvement be kept confidential.