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CA Department of Insurance

Southland insurance agent arrested for allegedly bilking 20 consumers in life insurance commission scam

News: 2015 Press Release

For Release: November 19, 2015
Media Calls Only: 916-492-3566
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Southland insurance agent arrested for allegedly bilking 20 consumers in life insurance commission scam
Search for more victims continues from Monterey to Los Angeles

VENTURA, Calif. - Alexander Komarenko, 54, of Newbury Park, was arrested and booked by the Ventura County Sheriff for allegedly running a commission scam by signing up more than 20 people for multiple life insurance policies without their knowledge, including one 83-year-old non-English speaking woman.

An investigation by the Department of Insurance Investigations Division found Komarenko allegedly traveled between Los Angeles and the central coast where he befriended people and sold them life insurance policies that included automatic monthly premium payments from their checking accounts.

Komarenko would then allegedly sign the victim up for additional life insurance policies without their knowledge and establish automatic payments. If victims noticed the additional payments, Komarenko explained it as insurance company billing errors. He then canceled the existing policies and wrote new ones-starting the scam cycle all over again.

"Komarenko violated his fiduciary responsibility when he allegedly took advantage of his clients," said Insurance Commissioner Dave Jones. "Licensed insurance agents hold a position of trust and are held to a high standard of professionalism in California."

Komarenko found additional victims by befriending people and gaining referrals from his victims. Investigators have identified 20 victims so far, stretching from Hollywood and the San Fernando Valley to Salinas and Monterey.

Department of Insurance investigators are looking for more victims. Anyone who has purchased a policy from Komarenko or received multiple billings for what they believe is one policy should call the department's toll-free consumer services hotline at 800-927-4357.

Komarenko's agent license has been suspended by the Department of Insurance. To learn more about the status, search by typing in the suspect's last name on the department's website.

Media Notes:

The California Department of Insurance, established in 1868, is the largest consumer protection agency in California. Insurers collect $310 billion in premiums annually in California. Since 2011 the California Department of Insurance received more than 1,000,000 calls from consumers and helped recover over $469 million in claims and premiums. Please visit the Department of Insurance website at Non-media inquiries should be directed to the Consumer Hotline at 800.927.4357. Telecommunications Devices for the Deaf (TDD), please dial 800.482.4833.

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