Applause Financial & Insurance Agency

Whittier ex-insurance agent arrested for grand theft and identity theft LOS ANGELES, Calif. Ex-insurance agent Yolanda De La Torre, 35, of Whittier, was arrested today on one felony count of grand theft and one felony count of identity theft after allegedly collecting over $13,000 in insurance payments from approximately 10 clients and leaving her clients uninsured. De La Torre, as a licensed insurance agent doing business as Yoly’s Insurance Services, collected payments fr...om clients for car insurance but failed to place it with an insurance company or pay premiums leading to cancellations. The department revoked De La Torre’s license and licensing rights on June 11, 2019, in order to protect consumers. The department’s investigation found that De La Torre accepted cash only payments and would pay the victims’ initial insurance payment, allow the premiums to be cancelled for non-payment yet continue to accept monthly payments from the victims. De La Torre also made unauthorized electronic payments with an unsuspecting victim’s checking account to pay for another client’s insurance coverage. Some of De La Torre’s victims became aware of the crimes when they were in car accidents and upon filing a claim with the insurance company found they had no coverage or their coverage had been cancelled for non-payment. Other victims became aware when they received notices from the DMV indicating registration was suspended due to no proof of insurance. This case is being prosecuted by the Los Angeles County District Attorney’s Office.

On boarded 3 new agents !!!On boarded 3 new agents !!!

Just finished my annual Anti-MoneyLaundering Certification!

On-boarding a new agent today!On-boarding a new agent today!

Hot off the Hot Mess Press! $10 million penalty in Wells Fargo case Wells Fargo agrees to exit personal insurance business after investigation found it signed up 1,500 consumers for insurance without consent... SACRAMENTO, Calif. - Wells Fargo has agreed to pay a $10 million penalty as part of a settlement agreement with the California Department of Insurance. This settlement resolves the department's accusation alleging improper insurance sales practices related to Wells Fargo's online insurance referral program. The improper practices resulted in consumers being signed up and charged for insurance products without their consent. "The Department of Insurance's investigation found that Wells Fargo was signing up and charging customers for insurance without their consent," said Insurance Commissioner Dave Jones. "Banks and other financial institutions should never be allowed to prey on their customers' trust without being held accountable." Wells Fargo has agreed to not transact any new business during the remaining term of its two insurance licenses, which expire in July and September 2020, respectively. The company also agreed to not apply for a license for at least two years following the expiration of their current licenses. $5 million of the penalty is due immediately. If the company ever seeks to return to the California insurance marketplace, it will then pay the remaining $5 million penalty. The Department may also decline to issue a new license. In November 2017, the department served on Wells Fargo an accusation seeking revocation of Wells Fargo's insurance license for improper insurance sales practices. The accusation was the result of an investigation opened at the direction of Insurance Commissioner Dave Jones, which found that from 2008 to 2016, Wells Fargo customers were issued approximately 1,500 insurance policies without their knowledge or permission. In some cases, employees told consumers to enter their personal information on a policy application merely to receive a quote, but Wells Fargo employees later submitted the application to the insurer to purchase the policy without the consumer's permission.

Press Release..,. Crime doesn’t pay Four in custody for alleged involvement in Sacramento organized auto insurance fraud ring... SACRAMENTO, Calif. Detectives from the California Department of Insurance have arrested Ameer Almassou, Bariq Aleyada, and Ziad Jaber Jaber for allegedly ripping off auto insurers for more than $22,000 by filing fraudulent insurance claims. One additional suspect, Muhamed El Gererey, self-surrendered yesterday. The scheme involved owners and associates of Habib Auto Sales, Ocean Auto Sales, and Rusul Auto Sales who allegedly bought damaged vehicles from auto auctions and staged collisions or damage with those vehicles in an attempt to collect fraudulent insurance payouts. In one example, a suspect reported his 2015 Dodge was stolen, found burned and determined a total loss. He then reported the alleged theft to his insurance carrier and claimed he bought the car for about $12,000 from his own auto dealership. The investigation revealed the car was actually bought at an auto auction and it was already totaled. In another example, a suspect bought a 2007 BMW with mechanical issues at an auto auction. That same day another suspect reported a solo vehicle collision to his insurer and claimed he bought the same 2007 BMW from a dealership. His insurer accepted the claim and paid him approximately $9,295 for his alleged collision. One of the suspects submitted another insurance claim to a different insurer for a 2013 Mercedes and received an insurance payout for approximately $11,685. He claimed that two hours after purchasing the car he was involved in a three-vehicle collision. To corroborate this claim, another suspect provided a sales contract to the insurer even though the car was actually bought at an auto auction for less than what the contract listed. Three of the suspects were taken into custody without incident and booked into the Sacramento County main jail on June 18, 2019. The fourth suspect self-surrendered to the Sacramento County main jail on June 20, 2019. This case was investigated by the Sacramento Urban Auto Fraud Task Force, which is supervised and led by the California Department of Insurance. The Sacramento County District Attorney’s Office is prosecuting this case.

Insurance Matters! If you don't have life insurance call me ... like yesterday!

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Please know it is impossible to call the IRS for answers because the Federal government is shut down. Stay tuned praying for a resolution... Soon.Please know it is impossible to call the IRS for answers because the Federal government is shut down. Stay tuned praying for a resolution... Soon.

SAN FRANCISCO, Calif. - Insurance Commissioner Dave Jones today announced that insured residential and commercial losses from the Carr and Mendocino Complex fires top $845 million and are now counted among the most destructive wildfires in the state's history. The insurance commissioner also provided an update on the insured losses from the 2017 wildfires and 2018 Montecito mudslides and announced a new report that details how climate change contributes to wildfire losses. "O...ur wildfire history tells the story of how our fire season has changed over the years from a four-month season to a year-round threat," said Commissioner Jones. "Over the past two decades, the frequency and severity of wildfires has increased and caused significant property damage and the tragic loss of life in the wildland-urban interface areas of the state. Even more troubling is that areas once considered not to be high risk are now being scorched by wildfires." Data collected by the department shows that the widespread destruction from the Carr and Mendocino Complex fires resulted in damaging or destroying more than 8,800 homes, 329 businesses, and more than 800 private autos, commercials vehicles, and other types of property. More than 10,000 claims have been filed, totaling $845 million in insured losses. According to CALFIRE, of the Top 20 Most Destructive California Wildfires, in terms of structures destroyed, 17 occurred after September 1st. Fire officials and experts warn that potentially the worst is yet to come.

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