Idaho Falls insurance agent’s license revoked
BOISE, Idaho (KIFI/KIDK) – The Idaho Department of Insurance revoked the insurance producer license of Julissa Ivette Chaffin and BETTY BAIL BONDS INC. for violations of the Idaho Insurance Code effective Dec. 30, 2019.
As a producer and indemnitor with Banker Insurance Company (“Bankers”) a bail bond surety, Chaffin was granted total underwriting authority of $50,000 by Bankers.
On Nov. 19, 2018, Chaffin executed two separate bail bonds totaling $150,000 on behalf of Bankers, exceeding the contracted amount of $50,000.
On Feb. 27, 2019, Bankers notified the Fifth Judicial District Court of the State of Idaho that it had revoked Chaffin’s authority to transact new business or execute any powers of attorney on behalf of Bankers.
Chaffin failed to return to Bankers all executed and unexecuted powers of attorney and failed to remit to Bankers the premium and fees due, which is in violation of Idaho Code 41-1016(1)(h).
“Licensed Agents, including Bail Agents, are required to follow the law,” said Director Dean Cameron. “Idaho Insurance Code exists to protect Idaho insurance consumers and violations will not be tolerated.”
Chaffin’s insurance producer license was revoked by the Idaho Department of Insurance and she was fined an administrative penalty of $1,000.
This order can be read in its entirety HERE.
