Oregon Insurance Producer’s License Revoked

Oregon’s Department of Consumer and Business Services’s Insurance Division has taken enforcement action against insurance producer Steven R. Boles of Union, Ore., for making false statements and forging names on 10 insurance applications.

According to the DCBS, Boles was licensed in Oregon as a resident insurance producer from Feb. 1990 to Dec., 2008. On Dec. 31, 2008, his license expired and his last recorded residence and business address was located in Union. From Oct. 25, 2005 to Jan. 12, 2006, Boles made fraudulent representations to Great Western Insurance Co. on or relative to 10 applications for insurance by creating or obtaining applications and related documents for 10 persons who did not intend to apply for the insurance, signing on the documents the names of the persons who did not authorize Boles to sign their names on the documents, purchasing with his own funds money orders to pay part of the premiums for the insurance, submitting to Great Western the documents and money orders, which he knew contained false information, and receiving from Great Western $10,170.62 as payment of commissions for the fictitious transactions, DCBS said.

Based on those actions, the DCBS revoked his license. Boles agrees to never apply for any license authorized by ORS Chapter 744; or have any equity interest in, be an officer or director of, or be employed by or contracted with, any person that is issued any license authorized by ORS Chapter 744, the state agency said.

For more information, visit http://www.cbs.state.or.us/external/ins/admin_actions/actions_2009/producer_2009/09-06-008.pdf.

Source: DCBS