STATE OF VERMONT
DEPARTMENT OF FINANCIAL REGULATION
IN RE: adam damrill ) docket no. 21-028-I
VT LICENSE # 901675 )
NPN # 16802443 )
DEFAULT JUDGMENT AND ORDER
I.FINDINGS OF FACT
Respondent Adam Damrill (“Respondent”) holds Vermont non-resident insurance producer license # 901675.
License # 901675 was last renewed on April 1, 2021 and is effective until March 31, 2023.
Respondent’s resident state is Oregon.
On June 17, 2021, the Oregon Division of Financial Regulation issued an order revoking Respondent’s Oregon resident insurance producer license, requiring Respondent to cease and desist violating the Oregon Insurance Code, and accessing a civil penalty for violating the Oregon Insurance Code (“Oregon Order”).
In the Oregon Order, the Oregon Division of Financial Regulation found that Respondent had bundled insurance products to consumers without describing the distinctions between them and without regard for the consumers’ needs and requests; had failed to provide accurate and complete information to consumers in connection with the sale or insurance products, including recommending particular plans because of Respondent’s personal financial incentive; and had made false statements and representation in connection with insurance applications, all violations of the Oregon Insurance Code.
As of the effective date of this Default Judgment and Order, more than 30 days after service of the Petition and Notice, no answer, request for a hearing, or other defense to the Petition has been received by the Insurance Division from Respondent.
More than 10 days have passed since the Insurance Division filed a motion for default judgment in the above-captioned matter and served the motion on Respondent.
II.CONCLUSIONS OF LAW
Because Oregon has revoked Respondent’s resident insurance license after concluding that Respondent engaged in numerous violations of the Oregon Insurance Code, causing Respondent to lose good standing in Respondent’s resident state, revocation of Respondent’s Vermont non-resident insurance producer license is authorized pursuant to 8 V.S.A. § 4804(a)(2) and (10).
Because no answer, request for a hearing, or other defense to the Petition has been received by the Insurance Division from Respondent, and as more than 10 days have passed since the Insurance Division filed a motion for default judgment, the allegations contained in the Petition are treated as proven and a default judgment may be entered in the above-captioned matter, pursuant to Sections 5 and 12 of the Vermont Department of Financial Regulation (formerly known as the Vermont Department of Banking, Insurance, Securities and Health Care Administration) Hearing Procedures, identified as Regulation 82-1.
Based on the findings of fact and conclusions of law set forth above, a default judgment is entered against Respondent and it is hereby ordered that the non-resident insurance producer license # 901675 of Respondent Adam Damrill is revoked, effective immediately.
Dated at _____________, Vermont this _____ day of __________ 2021.
Michael S. Pieciak
Commissioner of Financial Regulation
Vermont Department of Financial Regulation