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Monday, April 15, 2024

New York Life Sues Former Agent to Recoup Fee Advances

“Victor Chavez was permitted to resign after a evaluation of his enterprise practices raised considerations on various points, together with a sample of life insurance coverage functions declined for inaccurate or incomplete info such because the insured’s contact info and a potential signature discrepancy,” based on an entry in Chavez’ report within the FINRA BrokerCheck system.

Chavez has been registered with Park Avenue Securities since December 2023, based on BrokerCheck.

New York Life says Chavez owes it cash as a result of the corporate has a contractual proper to get again advances it paid him in reference to life insurance coverage functions he submitted that by no means really resulted within the issuance of life insurance coverage insurance policies, that resulted in insurance policies on which commissions had been adjusted, or that resulted within the issuance of insurance policies that had been later rescinded or canceled.

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