Thibodaux Agent and Agency Issued Cease and Desist Order, Summary Suspension and Fine Notice
September 9, 2009
Thibodaux insurance agent and his agency have been issued a cease
and desist order, summary suspension of licenses and fine notice
last week for 12 counts of alleged misappropriation of premiums.
Joseph Boudreaux, 67, and B&M Insurance Agency were served by Department of Insurance Fraud Section Investigators
on September 4 with an order to cease and desist from engaging in the business
of insurance, a summary suspension notice and a $5,500 fine
Boudreaux is alleged to have collected $6,820.73 in premiums
from 11 insurance consumers, which he did not remit to the insurance
records show that Boudreaux was issued a Life, Accident and Health
license in August 1987, and a Vehicle
and Property and Casualty license in September 2000. His
agency, B&M Insurance Agency, was issued a Vehicle
Physical Damage and Property and Casualty license in May
until they were summarily suspended on September 4 and
will be permanently revoked in 30 days from that time unless
a hearing request.
Commissioner Donelon urges consumers who feel uneasy about any
insurance related transaction to call the Department of Insurance
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.