Louisiana Alleges Insurance Agency Owner Pocketed Premiums

An East Baton Rouge Parish insurance agency owner recently was served by Louisiana Department of Insurance Fraud Division investigators with a summary suspension and a cease and desist order for alleged misappropriation of insurance premium funds.

Weldon Jerome Campbell, a property/casualty producer and owner of Alpha Insurance Agency of Louisiana Inc. in the City of Baker is alleged to have misappropriated more than $1400 in insurance premium.

According to investigators, Campbell accepted premium payments from a client but failed to remit the premium, resulting in cancellation of the client’s insurance coverage. Campbell faces revocation of his insurance producer license as well as a possible fine imposed by the Commissioner of Insurance.

Campbell has 30 days from the time of service to request an administrative appeal or the above actions will become final.

Source: Louisiana Department of Insurance