Oklahoma Insurance Commissioner Carroll Fisher revoked the license of a Bartlesville agent accused of both lying to clients to cover up the fact that he was unable to find coverage for them and taking cash from his employer. The insurance department said Beebe Stephenson admitted he misled several Bartlesville institutions into believing they had insurance coverage when, in fact, they did not. No evidence was presented indicating whether the establishments paid money for non-existent insurance coverage. One of the entities suffered a $3,500 loss, for which Stephenson’s employer ultimately paid. In another instance, a museum had to be closed for three days after it was learned it had been without insurance coverage some four months.
Topics Agencies
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