The Louisiana Department of Insurance shut the doors of Banner Insurance Agency Inc. at two Baton Rouge locations, according to Insurance Commissioner Robert Wooley. The Louisiana State Police Insurance Fraud Unit executed a search warrant and closure of the doors of the Banner Insurance Agency at 5559 Plank Road and 5515 South Sherwood Forest Boulevard in Baton Rouge. At the same time, LDI fraud investigators issued a Cease and Desist order and a summary suspension of the Banner Insurance Agency Inc. agency license. The investigation is continuing. The department’s C&D order alleges the agency was in violation of three state laws contained in the Louisiana Insurance Code, with charges ranging from financial irresponsibility in the conduct of business, to misrepresentation of the insurance contract, to presentation of a false written statement related to an insurance policy. LDI records show that the Banner Insurance Agency has businesses at the above locations and has held a property and casualty insurance license since 1979. To report suspected insurance fraud, contact the LDI Fraud Unit, statewide, toll-free, at (800) 259-5300 or at (225) 342-4956. Calls will be held confidential upon request.
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