DCBS Media Release

April 18, 2001
For More Information:
John Piper, 503-947-7213

State revokes Terrebonne insurance agent’s license

SALEM – The Department of Consumer and Business Services (DCBS) has revoked the insurance agent’s license of a Terrebonne man, Brian B. Smith, for violating the Oregon Insurance Code.

An investigation by the Insurance Division of DCBS found that Smith misappropriated premiums intended for a Bend woman who purchased auto insurance through him but later canceled her policy. Dairyland Insurance Co. issued a check to Smith’s agency for the “unearned premiums” owed to the woman, but he never paid her.

Smith also violated state law by failing to deposit premiums into an insurance premium trust account.

Smith agreed to the license revocation and to a lifetime ban from working in the insurance industry in Oregon.

Final Order