Hamm revokes Bismarck insurance agent's license Posted on 5/5/2011
BISMARCK, N.D.-North Dakota Insurance Commissioner Adam Hamm has revoked the license of Michael Krebs, a Bismarck insurance agent who allegedly falsified insurance applications in order to qualify for weekly bonuses. The revocation bars him from selling, soliciting or negotiating insurance in North Dakota.
Krebs is alleged to have created false applications for insurance policies in order to receive three weekly sales bonuses totaling $1,300. Krebs allegedly purchased money orders to make payments toward the false policies to make them appear legitimate.
"This revocation ensures that Mr. Krebs can no longer work with North Dakota's insurance consumers," Hamm said.
The Department issued a cease and desist order against Krebs in March.
Krebs consented to the revocation, waiving his right to an administrative hearing. Consumers with questions about insurance policies through Krebs are encouraged to call the North Dakota Insurance Department at 1-800-247-0560.
