Oregon agency seeks info about unlicensed insurance producer accused of misappropriating premiums
SALEM, Ore. (KTVZ) – The Oregon Division of Financial Regulation is seeking information from anyone who has had insurance dealings with Joshua M. Bekhor or his company, Immediate Insurance Services. Bekhor is under investigation for being an unlicensed insurance producer in Oregon and misappropriating insurance premiums.
The division received a complaint from an Oregon consumer who said Bekhor sold several policies to him for more than $11,000, only to find out the policies did not exist or were for much lower coverages than the insured believed he was purchasing.
The consumer was only made aware of these issues after an insurance investigator contacted him to let him know Bekhor had either never purchased the insurance policies the consumer paid for or had purchased much smaller policies.
The consumer contacted the insurance companies he was led to believe he had purchased policies with and in each instance he found Bekhor never purchased the policies the consumer paid for.
Bekhor is also accused of collecting premiums for the purchase of a property insurance policy for a company in Oregon but never forwarding the premiums to the insurer. The company found out when the roof of one of its warehouses collapsed from snow and ice, and the company suffered $100,000 worth of property damage. The insurance company denied the claim because the policy had been canceled due to nonpayment.
Bekhor held an insurance producer license in California from 2018 to 2021 but had it revoked for, among other things, fraudulent practices and diversion of funds.
DFR has issued an order for Bekhor to immediately cease and desist selling insurance in Oregon as an unlicensed producer and fined him for $8,000. Bekhor has an opportunity to contest these findings and allegations before an administrative law judge.
The division would like to remind people to only do business with insurance producers who are licensed in Oregon. You can check for a license on DFR’s website as well as file a complaint if you feel you have been defrauded or been the victim of a scam.
Anyone who may have purchased insurance from Bekhor is asked to contact DFR immediately. You can do so by calling 888-877-4894 (toll-free) or emailing dfr.insurancehelp@dcbs.oregon.gov.
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About Oregon DFR: The Division of Financial Regulation is part of the Department of Consumer and Business Services, Oregon’s largest business regulatory and consumer protection agency. Visit dfr.oregon.gov and www.dcbs.oregon.gov.
