DCBS Media Release
April 18, 2001
State revokes Terrebonne insurance agents license
SALEM – The Department of Consumer and Business Services (DCBS) has revoked the insurance agents 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 Smiths 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.