A former Tennessee insurance agent who lost his license in 1999 but continued to sell insurance products has been sentenced to 10 years in prison. Most of that jail time was suspended by a judge.
Johnny Ray Jackson, 55, of Gallatin, was investigated in 2020, after reports that he and his employees had signed people up for insurance policies they did not ask for, and had transferred annuity funds inappropriately, the Tennessee Bureau of Investigation explained. Jackson and five others were indicted in 2023.
Before that, Jackson’s producer license was revoked in 1999. In 2018, the Tennessee Department of Commerce and Insurance secured a cease-and-desist order against Jackson, alleging that he had sold insurance products without a license, the Hendersonville Standard and other news sites reported.
The insurer thanked its customers, agents, and brokers for their continued support following the temporary network outage. “We fully understand how much you, our customers and trusted partners, rely on our company, and we take that responsibility very seriously,” the announcement said.
Philadelphia Insurance Companies offers commercial property/casualty and professional liability coverages. The company is a member of Tokio Marine Group.
Insurance Sector Should Be on the Lookout for ‘Scattered Spider’ Hackers
Meanwhile Erie Insurance reported that it has made progress in reconnecting several business systems and applications as it continues to recover from its network outage.
“We are making consistent progress toward resuming normal operations and have safely and securely reconnected key business systems and applications, including online account access for customers,” Erie said i its latest update on June 27.
The insurer said the network and system outage it initiated on June 7 helped contain a threat. According to the insurer, “there is no evidence of ransomware and no indication of ongoing threat actor activity.”
Erie has also not acknowledged any data breach but said it is “working diligently to identify what, if any, data may have been affected.” The investigation of what it is calling a “security incident” is ongoing.
