Does anyone get away with this stuff? An insurance agent in a nearby city received a complaint from the Missouri Department of Insurance for taking money from a customer but then not purchasing the policy.
The agent, according to the MDI web site, "allegedly 
accepted over $16,000 from a client looking to purchase worker's compensation insurance and general liability insurance for his business," but, the state alleges, "the funds were deposited in [the agent's] checking account and proof of insurance cards were given to the customer. However, an investigation conducted by the department indicates that no money was ever forwarded to any insurance company to obtain coverage for the customer."
The insurance/securities industry is so closely regulated, why do so many people keep thinking they can beat it? I guess enough people get away with this kind of thing to make it worth trying, but the risk just seems stupid to me.
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