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STATE OF MAINE
DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION
BUREAU OF INSURANCE

 

In re:

PATRIOT INSURANCE AGENCY, INC., of Sonoita, Arizona
Maine License No. AGN100821
National Producer Entity No. 7928147

Docket No. INS-11-205

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LICENSE REVOCATION
NOTICE, ORDER,
and
OPPORTUNITY FOR
HEARING

 

NOTICE TO PATRIOT INSURANCE AGENCY, INC.:

Effective as of July 5, 2011, the Maine nonresident insurance producer business entity license held by Patriot Insurance Agency, Inc., a producer business entity located in Sonoita, Arizona which has also done business under the name of Renzi & Co., will be REVOKED without further formal proceedings unless Patriot Insurance Agency, Inc. (“Patriot”) requests a hearing as specified below.

The reasons for license revocation are as follows:

  1. The State of Colorado denied Patriot’s application for a nonresident producer agency license on April 19, 2010 based upon the use of fraudulent, coercive or dishonest practices or demonstrating incompetence, untrustworthiness or financial irresponsibility; the commission of an unfair trade practice or fraud; and the failure to fully meet licensing requirements. The Colorado denial constitutes grounds for revocation of Patriot’s Maine license under 24-A M.R.S. §1420‑K(1)(I) for having an insurance producer license, or its equivalent, denied, suspended or revoked in any other state, province, district or territory.
  2. The State of North Carolina denied Patriot’s application for a nonresident producer agency license on May 28, 2010 based upon the use of fraudulent, coercive or dishonest practices or demonstrating incompetence, untrustworthiness or financial irresponsibility, and for having an insurance producer license, or its equivalent, denied, suspended or revoked in another jurisdiction. The North Carolina denial also constitutes grounds for revocation of Patriot’s Maine license under 24-A M.R.S. §1420‑K(1)(I).
  3. The State of Wisconsin denied Patriot’s application for a nonresident producer agency license on June 4, 2010 based upon evidence of untrustworthiness or incompetence, and because of an administrative action taken by another state. The Wisconsin denial also constitutes grounds for revocation of Patriot’s Maine license under 24-A M.R.S. §1420‑K(1)(I).
  4. The Commonwealth of Virginia denied Patriot’s application for a nonresident producer agency license on August 3, 2010 based upon the agency being ineligible to obtain a license to act as an agent in the Commonwealth. The Virginia denial constitutes additional grounds for revocation of Patriot’s Maine license under 24-A M.R.S. §1420‑K(1)(I).
  5. The State of Wisconsin again denied Patriot’s application for a nonresident producer agency license on February 3, 2011 based upon evidence of untrustworthiness or incompetence, and because of administrative actions taken by other states. This Wisconsin denial also constitutes grounds for revocation of Patriot’s Maine license under 24-A M.R.S. §1420‑K(1)(I).
  6. The State of Colorado again denied Patriot’s application for a nonresident producer agency license on March 24, 2011 based upon the use of fraudulent, coercive or dishonest practices or demonstrating incompetence, untrustworthiness or financial irresponsibility; improperly withholding, misappropriating, or converting money or property; providing incorrect, misleading, incomplete or materially untrue information in a license application; and the failure to fully meet licensing requirements. This Colorado denial constitutes further grounds for revocation of Patriot’s Maine license under 24-A M.R.S. §1420‑K(1)(I).
  7. Patriot failed to report the above license denials to the Maine Superintendent of Insurance as required by 24-A M.R.S. §1420-P(1), which also constitutes grounds for revocation of Patriot’s Maine license under 24-A M.R.S. §1420-K(1)(B), for violating insurance laws.

Therefore, based upon the above grounds, Patriot’s Maine insurance producer business entity license is revoked as of July 5, 2011 pursuant to 24-A M.R.S. §§1417 and 1420-K, subject to Patriot’s right to request a hearing.

Under the Maine Insurance Code, specifically 24-A M.R.S. §1417 and §1420‑K, Patriot has the right to a hearing before the Superintendent or the Superintendent’s designee. If Patriot requests a hearing, Patriot will have the right to present evidence and arguments in its defense, and the staff of the Bureau of Insurance will bear the burden of proving each violation by a preponderance of evidence.

If Patriot requests a hearing, Patriot will receive further communication regarding scheduling. The matters to be determined through the hearing process are whether Patriot committed one or more of the violations listed above, and if so, the appropriate sanctions for those violations. The sanctions imposed after a hearing can include any available remedy under applicable laws, including the payment of civil penalties.

To request a hearing, Patriot must notify the Bureau of Insurance in writing no later than July 5, 2011. If Patriot does not file a written request for a hearing within 30 days from the time it knows or reasonably should have known of the intended revocation of its license, Patriot will lose its right to request a hearing on this matter, and the license revocation will be final and entered into Bureau records, in accordance with this Notice and Order.

Any request for a hearing, as well as all other communications regarding this Notice, Order, and Opportunity for Hearing must be addressed to Bureau staff Attorney Arthur G. Hosford, Jr., Bureau of Insurance, #34 State House Station, Augusta, ME 04333-0034. You may also reach Attorney Hosford by e-mail at arthur.g.hosford.jr@maine.gov or telephone at 207 624-8429.

 

May 24, 2011 ________________________________
Mila Kofman, Superintendent

 

Last Updated: January 16, 2014