CFO Tom Gallagher surrounded by children
Volume 2 Number 51
December 19, 2005

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GALLAGHER REVOKES PENSACOLA AGENT’S LICENSE

Tom Gallagher, Florida’s chief financial officer, announced a Pensacola insurance agent’s license has been revoked for multiple violations, including scamming a blind client.  Darrell E. Stidham, 54, has surrendered his licenses to sell life and health insurance policies and variable annuities.

“Floridians should have confidence that their insurance agents are dealing with them in good faith and that certainly was not the case here,” said Gallagher.  “Scamming Floridians, especially our most vulnerable citizens, will not be tolerated.”

The actions which led to Stidham’s license suspension include telling a blind client she was purchasing a Knights of Columbus life insurance policy, which was actually with another insurance company.  Stidham also did not include vital information on insurance applications which had been disclosed by the policyholders. 

Stidham had appealed the seven count complaint and suspension to the Division of Administrative Hearings in August 2005. However, the court recommended that his license be revoked.

The Florida Department of Financial Services’ Division of Agent & Agency Services, Bureau of Investigation, investigates various forms of insurance violations, including health, life, auto, property, workers' compensation, bail bonds and title insurance.  To verify whether an agent or company is licensed to sell insurance in Florida call 1-800-342-2762 or go to www.MyFloridaCFO.com and click on Verify Before You Buy.

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