Agent penalized $46,000 for Fraudulent and Dishonest Practices
- September 19, 2019
Nampa insurance agent penalized $46,000
BOISE, ID – Effective September 4, 2019, the Idaho Department of Insurance revoked the insurance producer license of Bryce Joseph Vance for violations of the Idaho insurance code and imposed an administrative penalty of $46,000.
Vance was charged and admits to violations of Idaho Code, Title 41, Chapter 10, by using fraudulent or dishonest practices, demonstrating untrustworthiness, or being a source of injury and loss to the public. Among the allegations was that Vance created and submitted to Farmers Insurance forty-six applications for insurance without the knowledge, consent, or authorization of the consumers for whom the applications were submitted.
“Misconduct by licensed agents is not tolerated by the Department,” said Director Dean Cameron. “Idaho Insurance Code exists to protect Idaho consumers and agents are required to abide by it.”
Vance shall not reapply for an insurance producer license for a period of five years from the issuance of the Final Order.