NEWPORT — The state has suspended a Newport Center man of his insurance license, following the discovery of a series of allegedly improper practices in his handling of client files.
Commissioner Michael Pieciak says that the Department of Financial Regulation issued an order suspending the insurance producer license of Benjamin Scherer, effective November 3, 2020.
Scherer’s former employer Royer Camp & Associated Insurance Inc. reached out to the Department to share information about the alleged improprieties.
The DFR investigation found that Scherer had engaged in a series of activities that were in violation of Vermont law, specifically, alleging that he put clients at risk by failing to cancel and obtain alternate insurance coverage while representing that he had done so, leaving them uninsured.
Scherer is also alleged to have failed to file a claim on behalf of a client despite stating that he had done so, putting the client’s rightful payment in jeopardy.
The report also alleges that Scherer allowed clients’ policies to expire contrary to their instructions.
Commissioner Pieciak concluded that an immediate suspension of Scherer’s license, pending a hearing request, was warranted to protect Vermont residents from the risk of being uninsured, having claims denied or untimely settled or suffering other negative impacts to their financial health and welfare.
“We are deeply sorry for any disruption that the employee may have caused,” A statement issued by Royer Camp reads. “This incident will only deepen Royer Camp & Associated’s commitment to the highest ethical business practices.
The DFR says that if you have purchased insurance through Scherer and have concerns about your coverage or a claim, contact Royer Camp & Associated Insurance Inc. or the Insurance Division at 802-282-3302, 800-964-1784, or email [email protected].
