Insurance Broker’s License Revoked: State Insurance Commissioner...
Insurance Broker’s License Revoked: State Insurance Commissioner John Garamendi has revoked the license of an Orange County insurance broker.
Garamendi charged Michael Kwiatkowski with selling policies issued by insurance companies that are unlicensed and in bad financial health. Kwiatkowski, who runs KD Excess & Surplus Insurance Services in Irvine, is charged with issuing $25 million in coverage in an unsound manner.
The license revocation does not take place for 30 days, however, and Kwiatkowski’s lawyer said he hopes to have it overturned before then with no interruption in KD Excess’ business. The financial records of the insurance suppliers Kwiatkowski uses have been on file with the Insurance Department, said Raymond A. Greenberg, Kwiatkowski’s attorney, and were open for review by the department at any time.
“Our client is supposed to do the department’s job?” Greenberg asked. “That’s absurd.”
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