Disaster Fraud Action Strike Team Brings $62,000 Insurance Fraud Scheme to a Halt - InsuranceNewsNet

InsuranceNewsNet

Sign in
  • Subscribe
  • About
  • Advertise
  • Contact
Home Now reading newswires
Topics
  • Life Insurance
  • Annuity News
  • Health/Employee Benefits
  • Property & Casualty
  • Advisor News
  • Washington Wire
  • Fiduciary Rule
  • INN Exclusives
  • Newswires
  • INNsider
  • INN Exclusives
  • NewsWires
  • Magazine
Sign in or register to be an INNsider.
  • INN Exclusives
  • NewsWires
  • ★ Regulation News
  • Podcast
  • Magazine
  • About
  • Advertise
  • Editorial Staff
  • Contact
  • Susbcribe

Get Social

  • Facebook
  • Twitter
  • LinkedIn
  • Google+
Insider
newswires
newswires RSS Get our newsletter
Order Prints Share
April 18, 2018 newswires No comments Views: 62

Disaster Fraud Action Strike Team Brings $62,000 Insurance Fraud Scheme to a Halt

Targeted News Service (Press Releases)

LAKE MARY, Florida, April 17 -- The Florida Department of Financial Services issued the following news release:

CFO Jimmy Patronis and the Department of Financial Services' Disaster Fraud Action Strike Team (DFAST) announced the recent arrest of Michael Christopher Hensley, owner BOSC Insurance Company and Hensley Insurance Company. Hensley admitted to the stealing $61,954 in insurance premiums between 2011 and 2018 in Orange County.

After an investigation by CFO Patronis' DFAST, it was revealed that Hensley solicited various commercial businesses to procure property and casualty insurance under both of his companies BOSC and Hensley Insurance. Hensley has had no active appointments on his license since 2010, making his licensed expired as of 2014 and unlicensed as of March 9, 2015.

After the impacts of Hurricane Irma, a commercial business property sustained extensive damage caused from the storm. The business owner attempted to contact his insurance agent, Hensley, for guidance on the claim process. After multiple calls and no response from Hensley, the owner contacted the listed insurance carrier on the Certificates of Insurance that Hensley had been providing the business with annually since 2012. An insurance representative with the listed company informed that the business was not insured with them nor had he ever been insured with the insurance company. Upon this revelation, the owner of the business contacted the CFO's Orlando Field Office for assistance.

As a result of the investigation, Hensley admitted to collecting monthly insurance premiums payments from nine different commercial business and providing them with false Certificates of Insurance Coverage. Hensley went to various insurance company's websites and made copies of their general liability policies. He would then take the companies information and transfer it to Certificates of Insurance and provide the fraudulent documents to the unsuspecting businesses as proof of insurance. Hensley further admitted to using the money that he obtained from the victim businesses for his own personal benefits.

Hensley was arrested April 6, 2018 by the Lake Mary Police Department and was booked into the Seminole County Jail on the counts of organized scheme to defraud and communications fraud, grand theft, misappropriation of insurance premium funds, unlicensed activity-MSB.

This case will be prosecuted by the Office of the State Attorney, 9th Judicial Circuit. Hensley could face up to 30 years in prison.

Investigators believe Hensley may have defrauded additional victims and encourage members of the community who have purchased property and casualty insurance from Michael Christopher Hensley, BOSC Insurance Company or Hensley Insurance Company to contact the Department of Financial Services' Insurance Fraud Hotline by calling 1-800-378-0445.

The Department's anti-fraud strike team consists of three teams that are working in areas heavily impacted by Hurricane Irma including South Florida, Miami-Dade and Monroe counties; Southwest Florida, including Lee and Collier counties; and Central Florida, including Polk and Orange counties. They are trained insurance fraud investigators with specialized knowledge of property & casualty fraud and workers' compensation fraud and to ensure that law-breakers are prosecuted to the fullest extent of Florida law, CFO Patronis is working directly with dedicated prosecutors housed within each of the respective State Attorney's Offices.

About CFO Jimmy Patronis

Chief Financial Officer and State Fire Marshal Jimmy Patronis is a native Floridian and a member of Florida's Cabinet, who oversees the Department of Financial Services. CFO Patronis works each day to fight insurance fraud, support Florida's firefighters, and ensure the state's finances are stable to support economic growth in the state. Follow the activities of the Department on Facebook (FLDFS) and Twitter (@FLDFS).

Older

Rep. Pelosi Issues Statement on Tax Day

Newer

Michigan Chamber of Commerce Supports Commonsense Medicaid Work Search Requirements

Advisor News

  • Baby Boomers Flocking To A Mexican Retirement
  • Retired Massachusetts Landscaper Scammed Out Of $100K, State Says
  • MDRT Study Finds Consumers Want Advisors Over Tech
  • Your Clients Should Plan Retirement Savings To Last 23 Years
  • Robert Moore Steps Down As CEO Of Cetera, Due To Health Reasons
More Advisor News

Annuity News

  • Nick Lane Assumes Role As President Of AXA Equitable Life
  • Annuity Sales Spiked 14 Percent In 2018, No Slowdown In Sight
  • Speak Out: NAIC Gets Plenty Of Advice On Annuity Sales Rule
  • Lincoln Financial Introduces Annuity Designed For Retirement Rollover Dollars
  • IRI Urges NAIC To Proceed Cooperatively With SEC On Suitability
More Annuity News

Health/Employee Benefits

  • Kansas GOP Pushes For Cheaper Health Plans That May Not Cover Pre-Existing Conditions
  • A Tax Penalty Could Help Shore Up Obamacare In California
  • Government Headed For Close To Half The Nation’s Health Tab
  • National Health Expenditures To Hit $6T By 2027, CMS Predicts
  • Florida Governor Wants To Import Drugs From Canada
More Health/Employee Benefits

Life Insurance

  • Family Turns To Crowdfunding To Pay For Loved One’s Funeral
  • AM Best Upgrades Issuer Credit Rating Outlook For Principal Financial
  • AIG Sets New Term Life Insurance Rates
  • Northwestern Mutual Reports Strong 2018 Financial Results
  • Florida Police: Niece Steals $188,000, Life Insurance, From Aunt
Sponsor
More Life Insurance

Sign up for our FREE e-Newsletter!

Get breaking news, exclusive stories, and money- making insights straight into your inbox.
select Newsletter Options

Most Popular

  • Annuity Sales Spiked 14 Percent In 2018, No Slowdown In Sight
  • Private Equity Targets Insurance Agencies For M&A Activity
  • Understanding The Benefits Of Whole Life Insurance
  • What If The Market Goes Up? Why An FIA Is Better Than Stocks
  • Automation, Big Data Will Drive 2019 Insurance Trends

Featured Offers

Text Ads

Press ReleasesAll press releases

  • LegacyShield® Launches MyTax, An Integrated Solution for Simplified, Professionally Prepared, Tax Returns
  • Nassau Re Launches Insurtech Incubator Will Give Space and Support to Startups in Hartford
  • Peerfit Prepares for Medicare Expansion with Peerfit Move, Recruits Industry Veteran
  • Great American’s Annuity Customers Share Their Secrets to a Great Retirement
  • Securian Financial Introduces Affordable, Protection-Focused IUL with No-Lapse Guarantee
Add your Press Release >

Topics

  • Life Insurance
  • Annuity News
  • Health/Employee Benefits
  • Property and Casualty News
  • Advisor News
  • Washington Wire
  • Regulation

Top Sections

  • INN Exclusives
  • INN Insider

Our Company

  • About
  • Editorial Staff
  • Advertise
  • Contact

Sign up for our FREE e-Newsletter!

Get breaking news, exclusive stories, and money- making insights straight into your inbox.

select Newsletter Options
Facebook Linkedin Twitter Google+
© 2019 InsuranceNewsNet.com, Inc. All rights reserved.
  • Terms & Conditions
  • Privacy Policy
  • Sitemap
  • AdvisorNews

Sign in with your INNsider Account

Not registered? Become an INNsider.