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Safe-Guard Products International, Inc.
STATE OF MAINE
BUREAU OF INSURANCE
Docket No. INS-07-201
This document is a Consent Agreement authorized by Title 10 M.R.S.A.
§ 8003(5), entered into among Safe-Guard Products International,
Inc., a Georgia corporation; the Maine Superintendent and Bureau of
Insurance; and the Maine Department of the Attorney General. Its purpose
is to resolve, in lieu of an adjudicatory proceeding, issues implicating
Title 24-A M.R.S.A. §1417(1) and §1420-K(1)(A).
- The Superintendent of Insurance is the official charged with administering
and enforcing Maine’s insurance laws and regulations, and the
Bureau of Insurance is the administrative agency with such jurisdiction.
- Safe-Guard Products International, Inc. applied for a Maine Nonresident
Business Entity Producer License in November, 2006.
disclose administrative proceedings
- Item 2 of the background questions on the application form electronically
filed in connection with this application required a response to the
“Has the business entity or any owner, partner, officer or
director ever been involved in an administrative proceeding regarding
any professional or occupational license?
- The applicant answered “No” to Item 2.
- The application included the “Authorizing Officer’s”
confirmation that, “As the authorized submitter, I declare that
the applicant provided all the information submitted on this application,”
and included the applicant’s “Certification and Attestation”
under the statement:
“All of the information submitted in this application and
attachments is true and complete and I am aware that submitting
false information or omitting pertinent or material information
in connection with this application is grounds for license or registration
revocation and may subject me and the business entity to civil or
- Staff of the Maine Bureau of Insurance discovered through its application
review process that the applicant had entered into a Consent Order
in December 2000 in the state of Pennsylvania, for “No license/No
Certificate of Authority,” resulting in a fine of $10,000.00.
- The Supervisor of Licensing for the Maine Bureau of Insurance requested,
by letter dated December 15, 2006, an explanation for the applicant’s
failure to disclose the Pennsylvania matter.
- The Bureau received a letter in reply, dated January 11, 2007, signed
by both the applicant’s Compliance Administrator and Compliance
Officer. This letter included documentation and an explanation of
the Pennsylvania matter as well as documentation and an explanation
of a similar California Cease and Desist order dated July 18, 2006.
The letter included the Compliance Administrator’s explanation
regarding the failure to disclose the matters in the application or
to accurately answer the item on the application requiring such disclosure:
“Please note that I inadvertently answered ‘No’
to background question #2 and request that you amend the question
to state ‘Yes’. I was unaware of the administrative
actions taken against Safe-Guard products International prior to
your notification. This was an error on my behalf and not an intentional
failure to disclose information on behalf of Safe-Guard Products
International or [the Compliance Officer].”
- The application form’s disclosure questions specifically require
disclosure of insurance administrative matters. Safe-Guard Products
International, Inc. provided incorrect, misleading, incomplete or
materially untrue information in its Maine application for nonresident
producer business entity licensing by failing to disclose the Pennsylvania
consent order and California order when it applied, and by certifying
that the information was true and complete, and the applicant has
not provided an adequate legal explanation for this failure to provide
accurate information or to answer the item on the application correctly.
- The provision of incorrect, misleading, incomplete or materially
untrue information in the license application constitutes grounds
for denial of the license application or other appropriate action,
including the imposition of a civil penalty, under 24-A M.R.S.A. §1420-K(1)(A).
- Safe-Guard Products International, Inc., the Maine Superintendent
and Bureau of Insurance, and the Maine Department of the Attorney
General agree to the following.
- This Consent Agreement is entered into in accordance with 10 M.R.S.A.
§ 8003(5)(B) and is not subject to review or appeal. This Consent
Agreement is enforceable by an action in the Superior Court.
- At the time of executing this Consent Agreement, Safe-Guard Products
International, Inc. will remit to the Maine Bureau of Insurance a
civil penalty in the amount of $250.00, payable to the Treasurer of
the State of Maine.
- Safe-Guard Products International, Inc. will promptly report any
matters to the Maine Bureau of Insurance during all times as it is
licensed through the Bureau, to the extent such reporting is required
under the Maine Insurance Code, and will comply in all other respects
with the provisions of the Maine Insurance Code, as applicable.
- In consideration of the applicant’s execution of this Consent
Agreement, the State of Maine Bureau of Insurance shall issue the
Nonresident Producer Business Entity License for which it has applied.
- Safe-Guard Products International, Inc. understands and acknowledges
that this Agreement will constitute a public record within the meaning
of 1 MRSA § 402, and will be available for public inspection
and copying as provided for by 1 MRSA § 408, and will be reported
to the NAIC “RIRS” database.
- In consideration of the applicant’s execution of and compliance
with the terms of this Consent Agreement, the Superintendent of Insurance,
Bureau of Insurance, and Department of the Attorney General agree
to forgo pursuing further disciplinary measures or other civil or
administrative sanction for the actions described in this Consent
Agreement, other than those agreed to herein. However, should Safe-Guard
Products International, Inc. violate this Consent Agreement, it may
be subject to any available legal remedy for the violation, including
without limitation the suspension or revocation of all licenses issued
to the applicant under the Maine Insurance Code.
- Nothing in this Agreement shall affect the rights or interests of
any person who is not a party to this Agreement.
Dated: ______________, ____
Safe-Guard Products International, Inc.
|State of Georgia, _______________, ss
Subscribed and Sworn to before me
this _______ day of ________, _____.
THE MAINE SUPERINTENDENT OF INSURANCE
|Dated: March 13, 2007
Eric A. Cioppa, Acting Superintendent
FOR THE DEPARTMENT OF THE ATTORNEY
|Dated: March 16, 2007
Assistant Attorney General
September 27, 2010