Hamm issues cease and desist against Jamestown insurance agent
Posted on 4/22/2009
BISMARCK, N.D.-North Dakota Insurance Commissioner Adam Hamm served a cease and desist order Tuesday, April 21 upon Rex Graves, a Jamestown insurance agent who is alleged to have engaged in deceitful and dishonest practices involving his insurance clients. The order bars Graves from engaging in the business of insurance until further notice.
The cease and desist order alleges that Graves accepted money from numerous insurance clients, applied a significant portion of the money to his own personal use and failed to maintain current payments on those clients' insurance policies.
"In cases like this, my department moves to ensure that there is no future harm to consumers," Hamm said. "This order stops him from working with North Dakota's insurance consumers."
Graves has a right to request an administrative hearing on the cease and desist order within 30 days of service.
Consumers with questions about their insurance policies through Graves are encouraged to call the North Dakota Insurance Department at 1-800-247-0560.