main menu page title feature menus content footer
My Florida C F O

CFO's Initiatives

Stay Connected

Follow the
Department of
Financial Services

Sign up for the CFO's
weekly newsletter!

Press Release

News   RSS RSS   Press Office   Archive

Department Seeks to Revoke Sarasota Agent’s License for Selling Unlicensed Insurance

8/20/2003

CONTACT: Justin Glover
(850) 413-2842

SARASOTA – The Florida Department of Financial Services has filed an administrative complaint against an area agent alleging that he sold bogus health insurance policies to at least six local businesses.

The complaint, filed today, alleges that Bradley Beshore, 54, of 3030 Chase Circle in Sarasota, sold policies for Meridian Benefit, an unlicensed insurance entity, currently in federal bankruptcy court in New Jersey. After purchasing the coverage, Beshore's clients began incurring a total of over $1.2 million in unpaid medical bills since June, 2001. The department is seeking to revoke Beshore's insurance agent license.

Beshore is affiliated with the insurance agency HRH of Sarasota. HRH and its affiliates are currently working to resolve claims from policies sold by Beshore for Meridian Benefit and have sent letters to affected policyholders. The letters advise policyholders to provide unpaid bills and other documents to HRH and provides a phone number for consumers' questions: 850-385-3636.

Beshore has been licensed as a Life and Health, Property and Casualty, and Variable Annuity agent since 1994.

Since February 2001, the department has shut down 16 unlicensed entities and their various affiliates after receiving complaints about unpaid claims. In addition, the department has sought administrative action against 76 insurance agents. Employers and consumers considering doing business with an unlicensed insurance entity are urged to consider that there is no oversight of the company's ability to pay claims and that there is no guarantee fund to cover outstanding claims should the company become insolvent. Consumers who have been victimized by these entities have reported damage to their credit and difficulty finding replacement coverage.

The department has been conducting a statewide public education campaign for more than a year warning consumers to "Verify Before You Buy." Consumers may visit www.fldfs.com and click "Think You're Covered?" to find out if an insurance company is licensed in Florida, file a complaint or learn more about unlicensed insurance. Consumers may also call the Department of Financial Services' toll-free consumer helpline at 1-800-342-2862 to verify that they are dealing with a licensed insurance company and a licensed agent. The helpline is available Monday through Friday, 8 a.m. to 7 p.m.