Managing Co-Owner Dismissed

The managing co-owner in The Leavitt Group’s Albuquerque office has been dismissed for reported misrepresentations made in proposals to 20 current or former clients over a six-year period. The misrepresentations were made in annual insurance renewal proposals, in which a recommended legitimate insurance quote was contrasted with falsified comparison quotes. The falsified quotes were reportedly higher than the legitimate recommended quotes. The falsified quotes either were never issued by cited insurers, or were inflated so as to appear noncompetitive.

The problems were brought to light when a client advised the Leavitt Group’s parent company, Leavitt Group Enterprises, of irregularities in a past renewal quote. An internal investigation confirmed that misrepresentations had occurred, with respect to the reporting former client, and also with respect to additional past and present clients.

The misrepresentations were reported to the New Mexico Insurance Department.