Wisconsin releases enforcement actions for December
The Wisconsin Office of the Commissioner of Insurance recently released a list of administrative actions for December.
The actions are issued by OCI when licensing applicants, or licensed individuals or companies have violated Wisconsin insurance statutes or regulations. In some cases, the individual or company denied the stated allegations but consented to the action taken.
Any forfeitures paid are deposited in Wisconsin’s Common School Fund administered by the Board of Commissioners of Public Lands. Earnings from the Fund are distributed to all public K-12 schools in the state and are used by school libraries to purchase materials such as books, newspapers, and computers.
Allegations and Actions Against Agents
Morgan Casey, 203 N San Dimas Canyon Rd, Apt C137, San Dimas, CA 91773, was ordered to pay a forfeiture of $500.00. This action was taken based on allegations of making misrepresentations in the sale of an insurance product and recommending an unsuitable insurance product.
Ira Johnson, 3436 Indiana Ave., St Louis, MO 63118, was ordered to pay a forfeiture of $500.00. This action was taken based on allegations of making misrepresentations in the sale of an insurance product and recommending an unsuitable insurance product.
Jessica Merten, 823 Quinlan Dr., Unit B, Pewaukee, WI 53072, had her application for an insurance license denied. This action was taken based on allegations of having criminal convictions that may be substantially related to insurance marketing type conduct and failing to disclose an alias name on a licensing application.
Marco A Ortega, 3217 S 25th St., Milwaukee, WI 53215, was ordered to pay a forfeiture of $500.00. This action was taken based on allegations of making misleading statements regarding a Medicare insurance plan.
Igor Shaykevich, 2307 W Club View Dr., Glendale, WI 53209, agreed to pay a forfeiture of $5,000.00, agreed to remain current on a payment plan with the Wisconsin Department of Financial Institutions (DFI), and agreed to a one-year suspension of his insurance license. These actions were taken based on allegations of selling unsuitable annuities and unregistered securities to insurance customers.
Allegations and Actions Against Companies
MedSurety, LLC, 18001 Hwy 7, Ste. 204, Minnetonka, MN 55345, agreed to the issuance of an Employee Benefit Plan Administrator (EBPA) license having certain financial and reporting requirements. This action was taken based on allegations of having inadequate financial resources to safeguard the public interest.
Omni Administrators, Inc., 3877 Flatlands Ave., Brooklyn, NY 11234, agreed to the issuance of an Employee Benefit Plan Administrator (EBPA) license having certain capital and reporting requirements. This action was taken based on allegations of having inadequate financial resources to safeguard the public interest.
Zizzl, LLC, N67W29393 Richter Rd., Hartland, WI 53029, agreed to the issuance of an Employee Benefit Plan Administrator (EBPA) license having certain reporting requirements. This action was taken based on allegations of having inadequate financial resources to safeguard the public interest.
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