Hamm revokes Grand Forks insurance agent's license
Posted on 12/2/2011
BISMARCK, N.D.-North Dakota Insurance Commissioner Adam Hamm has revoked the license of Lisa S. Johnston, a Grand Forks insurance agent who allegedly accepted clients' money and converted it to her own use. The revocation bars her from selling, soliciting or negotiating insurance in North Dakota.
Johnston allegedly accepted cash received by the agency for which she worked and paid only enough to keep policies current. She allegedly used the remaining funds to pay her personal bills. Johnston is alleged to have taken approximately $20,000 from the agency since October 2010.
"My first priority is to safeguard the interests of North Dakota's insurance consumers," Hamm said. "Revoking Ms. Johnston's license ensures that she will no longer be doing business in this state."
Johnston forfeited her right to a hearing by failing to respond to the Department's consent order and complaint.
Consumers with questions about insurance policies through Johnston are encouraged to call the North Dakota Insurance Department at 1-800-247-0560.