May 31, 2012
DIFP warns consumers and lenders who did business with insurance agent Wendi Glass
Glass and VMG insurance agency accused of issuing fake insurance coverage
Jefferson City, Mo. - The Missouri Department of Insurance is sending an urgent message to consumers and businesses in the St. Louis area who did business with former agent Wendi Glass and her company VMG, Inc. The department revoked the insurance license of Glass and VMG last September, but has received reports that Glass has been selling insurance illegally since that time.
The department turned its evidence over to St. Louis County Police, who arrested Glass on May 1. She is charged with forgery and stealing.
A Department of Insurance investigation found that Glass collected homeowners and auto insurance premiums from consumers, but never submitted the money to an insurance company. That left consumers and lenders believing incorrectly that insurance coverage was in place. Department Director John M. Huff says according to recent complaints, Glass may have given her customers forged insurance policy documents.
"We strongly encourage consumers who did business with Ms. Glass or VMG to do some research and find out whether they actually have insurance coverage," said Huff. "The worst-case scenario is that consumers don't learn they're uninsured until after they have a claim."
Huff advises consumers and lenders to verify any insurance policies sold by Glass or VMG, which may also be called Versatile Management Group Inc. He says they should contact the insurance company listed on the policy to determine if the coverage is valid. Consumers needing help locating the insurance company can contact the Department of Insurance.
Consumers are encouraged to file complaints against agents or insurance companies they believe have violated Missouri law. Since the beginning of 2012, the department has revoked the licenses of 11 insurance agents.
Consumers with complaints and general questions can call the department's Insurance Consumer Hotline at 800-726-7390 or visit insurance.mo.gov.
About the Missouri Department of Insurance, Financial Institutions & Professional Registration
The Missouri Department of Insurance, Financial Institutions and Professional Registration (DIFP) is responsible for consumer protection through the regulation of financial industries and professionals. The department's seven divisions work to enforce state regulations both efficiently and effectively while encouraging a competitive environment for industries and professions to ensure consumers have access to quality products.