Agent Gets 3 Years for Pocketing Premiums in New Jersey

A former Pennsylvania insurance agent has been sentenced to three years in prison for his role in scheme to steal hundreds of thousands of dollars in premiums, according to the New Jersey attorney general’s office.

Thomas Hurd, 53, of Bensalem, Pa., was principal of two insurance agencies —T.I.C. Brokerage and Hurd Insurance Agency, both of which were operated in nearby Bensalem, Pa.

The premiums he pocketed were payments for commercial insurance coverage for small businesses — including taxi and limousine companies. Fraud investigators say Hurd, who pleaded guilty in January, stole more than $322,200 — which he has been ordered to pay in restitution.

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Source: New Jersey Attorney General’s office