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CFO Sink Revokes Orlando Agent’s License for Pocketing Customer Payments

3/27/2007

CONTACT:  Nina Banister or Brannon Jordan
(850) 413-2842   
 
ORLANDO—Florida Chief Financial Officer Alex Sink has revoked the license of an insurance agent who, from 2004 to 2006, diverted premium payments from his clients into a personal account and never forwarded the payments to the insurance carriers.
 
Christopher Millsaps, 45, of Orlando, targeted several of his larger commercial business clients in Orange and Seminole counties, telling them they had additional insurance premiums due and instructing them to remit their payments directly to him. 
 
“Consumers trust insurance agents to ensure they receive adequate coverage and the services they pay for,” said CFO Sink.  “We will aggressively pursue any agent who takes advantage of a customer, especially as so many Floridians are struggling to keep up with rising premiums.”
 
The misappropriated funds were deposited into his personal account and were never paid to the respective insurance carriers. With the assistance of Millsaps’ agency employer, the Department of Financial Services has confirmed necessary coverage to all of his victims.
 
The Florida Department of Financial Services’ Division of Agent and Agency Services, Bureau of Investigation, investigates various types of insurance violations by agents including health, life, auto, property, workers’ compensation, bail bond and title insurance.  To check on the status of an agent’s license or to file a complaint against an agent, call 1-800-342-2762 or log on to www.fldfs.com.
 
As a statewide elected officer of the Florida Cabinet, Chief Financial Officer Alex Sink oversees the Department of Financial Services, a multi-division state agency responsible for management of state funds and unclaimed property, assisting consumers who request information and help related to financial services, and investigating financial fraud. Sink also serves as the State Fire Marshal.