Department of Insurance and Financial Services (DIFS) Issues Cease and Desist Order Against Lovell Borom, Jr. of Inkster, Michigan
FOR IMMEDIATE RELEASE: July 20, 2016
(LANSING) The Michigan Department of Insurance and Financial Services (DIFS) has issued a Cease and Desist Order against Lovell Borom, Jr. of Inkster, Michigan for selling fraudulent automobile insurance certificates. Although Borom is acting as an insurance agent, he is not licensed to solicit, sell or negotiate insurance in the State of Michigan. Consumers who have purchased what they think is insurance from Borom should check with their insurer, and obtain valid insurance immediately if necessary.
“Before purchasing insurance, Michigan consumers should be verifying that the agent they are working with is properly licensed to sell insurance in Michigan,” said DIFS Director Patrick McPharlin. “This can easily be done by checking our website or by calling our office.”
DIFS received a complaint alleging Borom was selling fraudulent insurance certificates after hours in an insurance agency parking lot. A producer of the agency contacted DIFS to report the fraud. The DIFS investigation found that Borom was advertising the availability of auto insurance on a social media page with his phone number listed.
“We remain focused on continuing our efforts to provide regulatory oversight of the insurance and financial services industries and ensure that the businesses within these industries are safe, sound, and entitled to the public's confidence,” added McPharlin.
If you feel you may be a victim, please contact DIFS at 877-999-6442. For more information about DIFS or the services provided, please visit the website at www.michigan.gov/difs, follow them on Twitter or “Like” them on Facebook.