California Insurance Commissioner Steve Poizner has reached a settlement with Palos Verdes-based, Paramount Disaster Recovery Inc.
Paramount's CEO Steve Slepcevic, along with Matthew Todd, and Charlie R. Rose (aka Reed Lostman) were given a cease-and desist order in August 2007 for allegedly posing as public insurance adjusters. None of the three were licensed by the California Department of Insurance and they allegedly acquired insurance jobs from survivors of the South Lake Tahoe wildfires.
Collectively the trio has been ordered to pay a $200,000 penalty, reimburse the State of California for $75,000 in litigation costs, and quit operating as unlicensed insurance claim adjusters in California.
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