State Business Officials Revoke Licenses of Oregon City Insurance Agent, Business

An Oregon City-based insurance provider is facing penalties for collecting premiums from his customers but not actually providing any insurance afterward.

The Oregon Department of Consumer and Business Services and the department’s Division of Financial Regulation have revoked the insurance producer licenses of both James R. Frackowiak of Canby and his insurance business, Plan-In Financial, after the division found that Frackowiak and the business –– on 12 occasions –– deposited premium funds into business accounts instead of trust accounts, as is required by Oregon law.

Frackowiak was fined $14,000 and ordered to reimburse his defrauded customers $4,275 in premium payments.

"This is an exceptionally important issue because insurance agents have a responsibility to serve their customers needs and act ethically,” Insurance Commissioner Laura Cali Robison said in a statement. "When consumers pay their premiums, they need to trust that they will actually be insured."

For help with insurance questions or to file a complaint, call the division's consumer advocates at 888-877-4894.

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