State suspends insurance license of Newport-area insurance agent


NEWPORT The state has suspended a Newport Middle man of his insurance coverage license, following the invention of a collection of allegedly improper practices in his dealing with of shopper information.

Commissioner Michael Pieciak says that the Division of Monetary Regulation issued an order suspending the insurance coverage producer license of Benjamin Scherer, efficient November 3, 2020.

Scherers former employer Royer Camp & Related Insurance coverage Inc. reached out to the Division to share details about the alleged improprieties.

The DFR investigation discovered that Scherer had engaged in a collection of actions that had been in violation of Vermont legislation, particularly, alleging that he put shoppers in danger by failing to cancel and acquire alternate insurance coverage protection whereas representing that he had executed so, leaving them uninsured.

Scherer can also be alleged to have didn’t file a declare on behalf of a shopper regardless of stating that he had executed so, placing the shoppers rightful cost in jeopardy.

The report additionally alleges that Scherer allowed shoppers insurance policies to run out opposite to their directions.

Commissioner Pieciak concluded that a right away suspension of Scherers license, pending a listening to request, was warranted to guard Vermont residents from the chance of being uninsured, having claims denied or premature settled or struggling different unfavourable impacts to their monetary well being and welfare.

We’re deeply sorry for any disruption that the worker might have brought about, A press release issued by Royer Camp reads. This incident will solely deepen Royer Camp & Relateds dedication to the best moral enterprise practices.

The DFR says that in case you have bought insurance coverage by means of Scherer and have considerations about your protection or a declare, contact Royer Camp & Related Insurance coverage Inc. or the Insurance coverage Division at 802-282-3302, 800-964-1784, or electronic mail dfr.insuranceinfo@vermont.gov.

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