Former Insurance Center Owner Charged With Insurance Fraud
Monday, May 8, 2017 | 0
Minnesota authorities have accused the former owner of a Montevideo insurance agency of failing to apply customers' premiums to their policies, resulting in the cancellation of 12 policies, the West Central Tribune reports.
Jeremy Lee Olson, 45, of Boyd, has been charged with felony insurance fraud.
The Minnesota Department of Commerce's enforcement division worked with the Montevideo Police Department to investigate allegations that Olson had accepted premium payments but not applied them to insurance policies while he owned the Montevideo Insurance Center. Twelve customers allegedly had their policies canceled because Olson either applied their premium payments too late or did not apply them.
In one case, a company said it went without workers' compensation coverage because Olson did not submit a $240 payment. The business owner now has to pay a higher premium to cover the lapse of insurance, the West Central Tribune reports.
Police say the investigation uncovered more than $9,000 in missing premiums.
Ironically, Olson is a member of the National Ethics Association, according to the organization's website. The website charges $15 per month to members in return for "credibility icons" that can be displayed on business' websites and marketing materials.
On April 27, authorities charged Olson with four felony counts of insurance fraud, one felony count of aggravated forgery and one felony count of issuing a bad check. Olson is expected to make his first appearance in Chippewa County District Court on May 15.
View the West Central Tribune's story here.
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