GALLAGHER REVOKES LICENSE OF AGENT WHO STOLE
PREMIUMS FROM A NURSING HOME AND OTHER BUSINESSES
Tom Gallagher, Florida’s chief financial officer, has revoked the license of
an Altamonte Springs insurance agent who stole more than $300,000 in
premiums from a nursing home and various other businesses throughout central
and southwest Florida.
Brian Alan King, 58, served as an officer and director of Florida Corporate
Insurers, Inc., located at 225 South Westmonte Dr. in Altamonte Springs. An
investigation by the Department of Financial Services’ Division of Agent and
Agency Services, Bureau of Investigation, determined that King
misappropriated the money from July 2005 through April 2006. The agency
closed in June 2006.
“Any agent who puts his clients at risk for his own personal gain should be
banned from working in this industry,” said Gallagher, who oversees the
Department of Financial Services. “I commend the investigators who worked
quickly to protect these businesses from further harm. We will continue to
aggressively pursue anyone who tries to take advantage of our citizens.”
King failed to forward premium funds to the appropriate insurance companies,
which created a lapse in insurance coverage. The department worked with the
various insurance carriers involved to get the policies reinstated.
“We are relieved that we were able to get coverage for those victimized by
this agent,” Gallagher said.
Anyone who believes they may also be a victim of this scam is urged to call
the Department of Financial Services’ Consumer Assistance Hotline at
The department’s Division of Agent & Agency Services, Bureau of
Investigation, investigates various forms of insurance agent violations
concerning health, life, auto property, workers compensation, bail bonds and