License Revoked Due to Non-Deposit of Payments to Fiduciary Account
- September 30, 2019
Priest River insurance agent loses license
BOISE, ID – Effective August 20, 2019, the Idaho Department of Insurance revoked the license of Desiree A. Jachetta for violations of the Idaho Insurance Code.
Jachetta, a resident of Priest River, failed to appropriately handle clients’ premiums. In addition to revoking her license, originally issued on September 18, 2001, the Department has imposed a $3,000 administrative penalty. Jachetta’s improper actions in failing to deposit received cash premiums and checks into her fiduciary account until after three months of receiving those fiduciary funds resulted in her license being revoked.
Idaho Department of Insurance Code requires that fiduciary funds that are in the form of a check, or another negotiable instrument that is made payable to an insurer, be remitted to the insurer within the period as directed by the insurer, or, where not specified, within twenty-one days of receipt.
“Our responsibility is to protect consumers and help them feel confident that all insurance producers are operating legitimately and in the best interest of those they serve, “said Director Dean Cameron. “Idaho Insurance Code exists to protect Idaho consumers and agents are required to abide by it.”