Released: September 9, 2009

A 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.

Robert 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 notice.

Boudreaux is alleged to have collected $6,820.73 in premiums from 11 insurance consumers, which he did not remit to the insurance companies.

Department records show that Boudreaux was issued a Life, Accident and Health license in August 1987, and a Vehicle Physical Damage 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 2001. All licenses were valid until they were summarily suspended on September 4 and will be permanently revoked in 30 days from that time unless the Department receives a hearing request.

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.