Monroe Producer Issued Cease and Desist Order, License Revocation
Released: June 26, 2008
A former Monroe life insurance producer has been issued a cease
and desist order, license revocation and fine notice today for alleged
misappropriation of insurance premiums.
Doc Edward Ward, Sr., 41, was served by Department of Insurance
Fraud Section Investigators today with an order to cease and desist
from conducting the business of insurance in Louisiana, revocation
of his license and a $2,500 fine notice for allegedly failing to
remit to an insurance company over $4,000 in premiums he collected
from 84 persons between June and December 2006. The amount owed to
the company also reflects checks Ward wrote that were returned for
Department records show that Ward was issued an individual producer
license in June 2006, which lapsed in April 2008 and was not reinstated.
Commissioner Donelon urges consumers who feel uneasy about any insurance
related transaction to call the Department of Insurance Fraud Section
at 225-342-4956 or 1-800-259-5300. If callers do not want their names
used, they can request that their involvement be kept confidential.