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Gallagher Revokes Pensacola Agent’s License

12/19/2005

CONTACT:
Tami Torres or Bob Lotane
(850) 413-2842
 
TALLAHASSEE—Tom Gallagher, Florida's chief financial officer, today announced a Pensacola insurance agent's license has been revoked for multiple violations, including scamming a blind client.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 that led to Stidham's license revocation 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 revocation 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.fldfs.com and click on Verify Before You Buy.
 
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As a statewide elected officer of the Florida Cabinet, Chief Financial Officer Tom Gallagher 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. Gallagher also serves as the State Fire Marshal.