The Louisiana Department of Insurance (LDI) has issued Cease and Desist Orders and fines to two St. Martin Parish insurance producers for alleged misappropriation of premium funds.
Tasey Ann Tolliver-Alexander is alleged to have misappropriated insurance premium in 2019. According to investigators, Tolliver-Alexander also was engaged in the business of insurance with an expired license. Records from the insurer indicate that payment was never forwarded resulting in said policy being canceled. Vincent Alexander, the owner of the Vincent Alexander Insurance Agency and the husband of Tasey Ann Tolliver-Alexander, was also issued a cease and desist order as well as a summary suspension and revocation of his producer’s license for failure to adequately supervise the activity of Tolliver-Alexander.
“Victims of agents who collect premiums for insurance coverage are placed at a huge risk for drastic financial losses when they think they have insurance in place for their protection, but do not,” said Insurance Commissioner Jim Donelon. “Consumer protection being our first responsibility, actions like those of these agents will not be tolerated.”
Tolliver-Alexander and Alexander have 30 days from the time of service to request an administrative appeal or the above actions will become final.