TALLAHASSEE, Fla. - Insurance Commissioner Kevin McCarty today announced the Florida Office of Insurance Regulation (Office) has issued a
Final Order to Cease and Desist to Infinity Surety (Infinity) of Saginaw, Texas, and its president, George D. Black, for selling unauthorized surety insurance in Florida.
On April 8, 2010, the Office issued an initial
Order to Infinity and its then president George D. Black, Sr. ("Black Sr."). Neither Infinity nor Black Sr. challenged or contested the Office’s initial order, which precipitated the Office’s issuance of a final order.
Office investigators determined Infinity has never been granted a certificate of authority or license to transact insurance as a surety company in Florida. Investigators discovered Infinity offered and sold more than two million dollars worth of bonds to Florida contractors for business transactions with cities, counties, and municipalities across the state. Surety insurance involves a bond that guarantees the performance of a contract – most often related to construction projects.
Consumers may determine if an insurer is licensed in Florida by visiting the Company Search tool on the Office’s Web site:
www.floir.com.
About the Florida Office of Insurance Regulation
The Florida Office of Insurance Regulation (Office) has primary responsibility for regulation, compliance and enforcement of statutes related to the business of insurance and the monitoring of industry markets.
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