FOR IMMEDIATE RELEASE
September 25, 2009
Contact: Jason Moon 517-335-1700
LANSING - The Office of Financial and Insurance Regulation (OFIR) has ordered Benefit Management Administrators, Inc. (BMA), a Caledonia-based insurance agency, and its owner, N. Henry Bledsoe, to cease and desist from selling fraudulent life and health care policies. OFIR received information that BMA has solicited and sold life and health insurance that it claimed were fully insured to Michigan consumers when in fact, there was no underlying insurance. BMA was conducting business as the insurer for these health and life products it sold, unbeknownst to consumers and without the appropriate certification as an insurer required by Michigan law.
"Any Michigan consumer who purchased life or health insurance policies from Benefit Management and Henry Bledsoe should contact our agency immediately to see if they have proper coverage," OFIR Commissioner Ken Ross said.
Consumers can contact OFIR toll-free at 877-999-6442.
Before purchasing life and health insurance, verify whether an insurance agent is licensed in Michigan and is appointed by an insurance company licensed to do business in the state by calling OFIR toll-free at 877-999-6442. Before and after purchasing a health insurance plan, verify that you have the proper coverage by making certain that the agent and insurance company have provided you with all the appropriate documentation, including applications, policy certificates and financial statements.
A person who violates or otherwise fails to comply with a cease and desist order is subject to a civil fine of not more than $1,000.00 for each violation not to exceed an aggregate civil fine of $30,000.00. However, if the person knew or reasonably should have known the person was in violation of the order, payment of a civil fine of not more than $25,000.00 for each violation not to exceed an aggregate civil fine of $250,000.00.
To view OFIR's order, visit: http://www.michigan.gov/documents/dleg/Benefits_Management_9_25_09_293620_7.pdf.
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