Two recent court cases involving Los Angeles metro insurance agents are examples of why consumers should verify coverage with their insurance companies. According to the California Department of Insurance (CDI), this week former insurance broker Julie Diane Shinar of Long Beach was convicted of theft by embezzlement. Shinar received cash payments from clients and instead of remitting the payments to the insurance carrier, used the funds for her own benefit for roughly two years. The embezzlement was discovered during a routine insurance company audit of Shinar's trust account. She has been ordered to serve three years formal probation and pay $29,158 in restitution to her victims. Last week, Said Lakhlifi of Covina, a licensed insurance agent and owner of Mogador Insuran...
- Don't pay an insurance agent in cash for your premium.
- The most common real estate broker violations enforced in California are related to trust fund record keeping and shortage.
- In January the Bureau of Real Estate conducted 37 enforcement actions related to Los Angeles metro-based real estate agents.