Posted at 2:22 p.m., Wednesday, December 13, 2006
State to fine Maui insurance salesman, revoke license
Advertiser Staff
State Insurance Commissioner J.P. Schmidt said he intends to fine insurance salesman Reed N.S. Anderson-Teshima $10,000 and revoke his insurance producer's license for selling a plan to a senior citizen who didn't understand what she was buying."Unfortunately we have seen an increase in the number of complaints where licensees have taken advantage of seniors," Schmidt said in a news release. The division "will take swift and strong action against any abuse of our kupuna involving any other insurance matters."
The state Insurance Division's investigation determined Anderson-Teshima sold a United HealthCare Medicare Advantage plan to an elderly citizen at a Maui retirement home and that the person wasn't competent enough to understand the transaction.
