More States Pull O’Garro’s Licenses

by Categorized: Earl O'Garro Jr., Hybrid Insurance Group Date:

In December, we reported that more than a dozen states had revoked or suspended insurance licenses for Earl O’Garro Jr., who is now under federal investigation.

Records show that O’Garro, the embattled chief executive officer of Hybrid Insurance Group, at one time held licenses in 39 states to conduct insurance business. But many states pulled his licenses after learning that O’Garro’s Connecticut license had been taken away (the action is required once a home-state license is revoked).

Insurance departments in Alabama, Arizona, California, Iowa, Kansas, Kentucky, Louisiana, Minnesota, North Carolina, New York, South Dakota and Tennessee revoked, suspended, inactivated or otherwise terminated O’Garro’s “non-resident” insurance licenses, officials in those agencies told The Courant. The Commonwealth of Virginia in July revoked O’Garro’s surplus lines broker license after he failed to pay fines and penalties from 2012, according to a Connecticut insurance department complaint.

Since our December report, it looks like insurance departments in Maine, Michigan and Nevada have followed suit. All three sent notices to O’Garro saying his licenses had been revoked or inactivated. O’Garro’s Missouri license also will be terminated if he does not respond to a renewal notice seeking payment before Feb. 10, according to documents obtained by The Courant.

Eric Cioppa, the superintendent with the Maine Department of Professional and Financial Regulation, Bureau of Insurance, wrote in a notice to O’Garro:

“The State of Connecticut revoked your insurance agent’s license by order on November 14, 2013, for violations constituting demonstrated lack of fitness or trustworthiness, including misrepresentation, misappropriation of premium, and failure to remit premiums to insurer. This constitutes grounds for revocation of your Maine license. … The Commonwealth of Virginia revoked your insurance agent’s license by order effective July 15, 2013, for failure to pay the maintenance assessment and other related fine[s] and penalties for the year 2012. This constitutes additional grounds for revocation of your Maine license.”

O’Garro was given until Jan. 17 to request a hearing before his license was pulled. In an e-mail, an official from the department said Monday that O’Garro never requested that hearing, and his license in Maine has been revoked.

In addition, a notice from the Nebraska Department of Insurance says O’Garro failed to file a third quarter surplus lines report as required. The reports are meant to identify “surplus lines business placed during the quarterly time period,” according to a letter from the agency to O’Garro.

O’Garro was given 45 days to provide the report before, department officials said, they would refer the matter to the legal division.

To view some of the notices, click here: Licenses

Also, click here to read my colleague’s post on O’Garro’s issues with the Illinois Insurance Department.

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