SULLIVAN, Ind. (WTWO/WAWV) — A Sullivan man will no longer be licensed to sell insurance after reaching an agreement with the Indiana Department of Insurance over claims of writing fictitious policies for personal financial gain.
According to documents from the IDOI, Tanner Reynolds agreed to the penalties in late September, with a Commissioner of Insurance accepting the agreement in October.
The document stresses that the agreement is not an admission of wrongdoing criminally, but was entered to “terminate and resolve this administrative matter between parties.”
As part of the agreement, Reynolds’ resident producer license to sell insurance was permanently revoked, and Reynolds will not be allowed to reapply for licensure.
The agreement notes that Reynolds was terminated for cause from Allstate Insurance Company in May of 2023 for “improperly selling policies for personal financial gain by writing fictitious policies, and by including multiple vehicles not owned by the individuals in whose names the policies were issued.”
“Respondent (Reynolds) understands that this Agreed Entry resolves only the matter pending with the Department and does not affect any criminal prosecution or civil litigation that may be pending or hereinafter commence against Respondent.”
Agreed Entry filed before the Indiana Commissioner of Insurance
Reynolds had held the license since July of 2018.
