Michigan insurance company has license suspended

An insurance brokerage has been stripped of its license amid suspicions of fraudulent sales, the state commissioner’s office said

Insurance News

By Lyle Adriano

The Michigan Department of Insurance and Financial Services (DIFS) ordered on Jan. 13 a Summary Suspension and Notice of Intent to Revoke the insurance producer license of Richard R. Creed and his Auburn-based company, Evergreen Insurance Agency Inc. Creed allegedly took advantage of his customers through fraudulent sales.

Investigators found that Evergreen Insurance violated a number of provisions of the Michigan Insurance Code, which includes the sale of fraudulent insurance policies.

DIFS Director Patrick McPharlin asserted that Creed had been taking advantage of his customers and putting them at financial risk by selling insurance policies without actually providing coverage.
Sgt. Jim Lang of the Michigan State Police confirmed that a criminal investigation is under way to determine if a crime has been committed.

Creed came to the DIFS’ attention when a customer complaint was filed to the authority in early January. Through its own investigation, the DIFS determined that Creed produced a fraudulent certificate of insurance.

"We remain focused on continuing our efforts to provide regulatory oversight of the insurance and financial services industries. We ensure that the businesses within these industries are safe, sound and entitled to the public's confidence," reassured McPharlin.

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