- Florida Office of Insurance Regulation Seeks to Suspend Insurance Company Tied to 1-800-ASK-GARY
- April 26, 2013
- Law Firm: Colodny Fass Talenfeld Karlinsky Abate Webb P.A. - Fort Lauderdale Office
The Florida Office of Insurance Regulation ("OIR") announced late yesterday, April 25, 2013, that it has issued an Order seeking to suspend AGIC, Inc., an auto insurance company whose president is the same Sarasota chiropractor tied to the accident referral service of "1-800-ASK-GARY."
An OIR investigation determined that AGIC Inc. is in unsound financial condition with a surplus under its required $4 million. The company also was late in filing financial statements and wrongly comingled funds from other sources to raise its surplus, according to the OIR order.
AGIC, Inc. has 21 days to file a petition requesting a proceeding to contest the OIR's action, during which it remains licensed to operate in Florida.