STATE OF VERMONT
DEPARTMENT OF FINANCIAL REGULATION
IN RE: Marco ANTONIO Vasquez ) Docket No. 21-036-I
VT LICENSE # 3459438 )
NPN # 16337686 )
DEFAULT JUDGMENT AND ORDER
I.FINDINGS OF FACT
Respondent Marco Antonio Vasquez (“Respondent”) holds Vermont non-resident insurance producer license # 3459438.
License # 3459438 was last renewed in 2021 and is effective until March 31, 2023.
Respondent’s resident state is Texas.
On August 12, 2021, the Texas Commissioner of Insurance issued a default order revoking Respondent’s Texas resident general lines insurance license and any other insurance license held by Respondent (“Texas Order”). The Texas Order is attached as Exhibit 1.
In the Texas Order, the Texas Commissioner of Insurance found that Respondent had not responded to a notice of hearing and petition filed on July 12, 2021 by the Texas Department of Insurance alleging that Respondent submitted to an insurance company with which he had an appointment at least 22 prior carrier experience letters that were altered in order to qualify customers for lower premium rates, a violation of Texas Insurance Code and grounds for revocation of Respondent’s insurance licenses under Texas law.
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 Texas has revoked Respondent’s resident insurance license, 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 # 3459438 of Respondent Marco Antonio Vasquez is revoked, effective immediately.
Dated at _____________, Vermont this _____ day of __________ 2021.
Michael S. Pieciak
Commissioner of Financial Regulation
Vermont Department of Financial Regulation