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Press Release

Insurance Marketer Ordered To Stop Illegal Sales
Monday, June 30, 2003
Contact Info:

Bob Lotane
850/ 413-2515
850/ 528-2868

Tallahassee - The Florida Office of Insurance Regulation has ordered the Native Assurance Company, Inc., of Hollywood and Boca Raton, to stop transacting insurance business in the state. Additionally, the Office has ordered Native Assurance's associated entities and persons, including All Risk Underwriters, LLC and All Risk Holding, LLC, of Miami and Hallandale Beach, to cease insurance operations. The entities named are currently unlicensed and unauthorized to transact insurance in Florida.

Native Assurance claims to be operating under a certificate of authority from the Seminole Tribe of Florida and claims to be exempt from oversight under federal law having to do with Native Americans. However, the Seminole Tribe has not given authorization or approval to Native Assurance Company, Inc. or its associated entities.

Native Assurance is engaged in soliciting multiple insurance benefits including health, life and workers' compensation liability coverage. Native Assurance solicited business, and for agents to assist in its business, on an interactive website.

Praising the work of his Unauthorized Entities Task Force, Office of Insurance Regulation Director Kevin McCarty said his office will not rest in its pursuit of unauthorized operators who upset the legitimate admitted insurance market of Florida.

"Too often we have seen these entities collect premiums from consumers and then leave them with unpaid claims and often unable to secure legitimate insurance." McCarty added that unlike insurance carriers who submit to state oversight, "these companies don't contribute to the state pool that pays policyholder's claims, should their insurer go out of business."

Under Florida law, those engaging in the insurance business without a certificate of authority are subject to being charged with a third degree felony. Over one hundred operators, entities and associates, who were found to be engaging in unauthorized insurance marketing, have been shut down as a result of the campaign to end such activity.

A statewide media campaign alerting Floridians to Verify Before You Buy has been operating since 2001, warning consumers to avoid buying insurance from unlicensed entities. To check whether an insurance company or agent is authorized in Florida visit the Department of Financial Services' web site at www.fldfs.com or call the consumer helpline at (800) 342-2762.

Entities and persons named in the immediate final order:


NATIVE ASSURANCE COMPANY, INC.
6333 North 39th St.
Hollywood, Florida 33024

NATIVE ASSURANCE COMPANY, INC.
Post Office Box 34
Boca Raton, Florida 33429

CHRIS OSCEOLA, President
Native Assurance Company, Inc.
6333 North 39th St.
Hollywood, Florida 33024

ANTHONY P. BARATTA, Director
Native Assurance Company, Inc.
6333 North 39th St.
Hollywood, Florida 33024


BOB YOUNG, Vice-President
ALL RISK UNDERWRITERS, LLC



2500 N.W. 79th Ave., Suite 201
Miami, Florida 33122

ALL RISK UNDERWRITERS, LLC
ALL RISK UNDERWRITERS, LLC
2500 N.W. 79th Ave., Suite 201
1835 E. Hallandale Beach Blvd.
Miami, Florida 33122
Hallandale Beach, Florida 33009

SAUL FRAYND
ALL RISK UNDERWRITERS, LLC
1835 E. Hallandale Beach Blvd.
Hallandale Beach, FL 330

ALL RISK HOLDING, LLC
2500 N.W. 79th Ave., Suite 201
Miami, Florida 33024

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Contact Info:

Bob Lotane
850/ 413-2515
850/ 528-2868

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