A Garnavillo insurance agent’s license has been revoked for fraudulent and dishonest practices.
The Iowa Insurance Division says Brenda Murray either misrepresented the benefits, terms and disadvantages of certain insurance policies to elderly consumers in various instances.
Murray also made misrepresentations to insurance carriers, including falsely identifying herself as the consumer. She advised clients to make transactions that were not suitable and not in line with their insurance and financial goals.
As part of the investigation into this complaint filed against Murray, the Iowa Insurance Division was able to work with the insurance carriers to reverse the unsuitable insurance transaction, which minimized the financial impact to the consumers.
In addition to having her license revoked, Murray is also ordered to pay $18,000 in civil penalties.