State Revokes License Of Insurer At Center Of Hartford Controversy
By Jenna Carlesso and Vanessa De La Torre, The Hartford Courant | |
McClatchy-Tribune Information Services |
State insurance officials said O'Garro failed to respond to an 11-count complaint lodged against him. He had 20 days to reply, and hadn't contacted the department by the close of business on
"We received no response at all," Tommelleo said. "As a result, the [insurance] commissioner determined he was in default and signed a revocation order today."
O'Garro has 60 days to contact the department if he wants to appeal the decision, she said. A hearing that had been scheduled for
State and city officials were expected to turn over records by Thursday as part of a federal grand jury investigation into Hybrid and O'Garro.
Federal authorities have notified O'Garro that he is a target of their investigation, a source told The Courant.
Tommelleo said the state insurance department also has turned over all documents requested by federal authorities.
A memo by the
The city's excess liability coverage remains in place, however, officials said.
The schools memo noted that the city's "standard operating protocols" apparently were violated in the wire transfer to Hybrid and that "there may be a conflict of interest" involving city Treasurer
The memo also pointed out that
Hybrid's company sign was removed from the building earlier this month. O'Garro has not returned requests for comment.
In addition, Hybrid has defaulted on a
Cloud has denied that a personal relationship had anything to do with the city's involvement with Hybrid. In a letter to The Courant, Cloud said: "The pension fiduciary liability policy was not 'moved' -- rather a broker agency, Wentworth [
In another memo, Cloud added: "The reality is that Wentworth solicited the treasurer's office regarding providing this insurance, and subsequently made a proposal, as the named agent, with Hybrid as the broker."
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