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2016 Division of Insurance Enforcement Activity

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Please Note: P.L. 2013, c. 259 became effective on July 1, 2014.  This law amended the Administrative Procedure Act, R.S. 52:14B-1 et seq. One of the amendments requires all state agencies to post on their websites all non-confidential final agency orders, decisions and opinions. Accordingly, all such final agency orders or decisions in disciplinary actions issued subsequent to July 1, 2014 may be accessed by clicking on the link within the summaries below. Orders or decisions issued on such matters prior to July 1, 2014 are available upon request to the Division of Insurance.

Final Order

Frank Cotroneo, Bernardsville, NJ and Allenwood, PA
Order #E16-07, January 25, 2016
Respondent failed to respond to an order to show cause charging him with misappropriation of funds from the Perth Amboy Board of Education, with making fraudulent misrepresentations to an insurance carrier, and with failing to notify the Commissioner of criminal prosecutions.
Sanction: Revocation and Fine - $25,000

Consent Orders

Joseph P. Canciglia, Fort Lee, NJ
Order #E16-02, January 6, 2016
Respondent failed to timely notify the Department of a 45 day suspension by FINRA.  
Sanction: Fine - $1,000

Brian P. Carr, Naples, FL
Order #E16-04, January 14, 2016
Respondent failed to timely notify the Department that his registration with the New Jersey Bureau of Securities was revoked for fraudulent acts and that a final judgment was entered against him.
Sanction: Fine - $2,500

CBS Medical Billing Solutions, LLC, Bloomfield, NJ
Order #E16-06, January 25, 2016
Respondent acted as a third party billing service in New Jersey when it was not certified as a third party billing service.
Sanction: Fine - $1,000

Lender’s Edge Settlement Services, LLC, Feasterville, PA, Charles Morrone, Churchville, PA and Andrew C. Salvucci, Newtown, PA
Order #E16-03, January 8, 2016
Respondents were terminated by title insurance companies for misconduct in performing real estate closings, including failing to pay off prior mortgages, failing to disburse amounts due as property taxes and overcharging of title insurance premiums.
Sanction: Revocation

Fred Shatzoff, New Milford, NJ
Order #E16-01, January 4, 2015
Respondent misrepresented himself as a proposed insured when completing a telephone application without authorization of the proposed insured.
Sanction: Producer Act Fine - $5,000, Fraud Act Fine - $2,500 and Fraud Act Surcharge - $125

Previous Years
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