State revokes Priest River agent's license

BOISE — The Idaho Department of Insurance is stripping a Priest River insurance agent’s credentials for mishandling cash premiums and checks, the department announced on Tuesday.

Desiree A. Jachetta’s license revocation took effect on Aug. 20 due to violations of the Idaho Insurance Code.

In addition to revoking Jachetta’s license, the department imposed a $3,000 administrative penalty, which was suspended but due and payable in full if Jachetta seeks reinstatement of her license in the future, records show.

Jachetta’s license was originally issued in 2001.

Jachetta was accused of failing to appropriately handle clients’ premiums.

Jachetta’s improper actions in failing to deposit received cash premiums and checks into her fiduciary account until after three months of receiving those fiduciary funds resulted in her license being revoked, the department said. Idaho Department of Insurance Code requires that fiduciary funds that are in the form of a check, or another negotiable instrument that is made payable to an insurer, be remitted to the insurer within the period as directed by the insurer, or, where not specified, within 21 days of receipt.

“Our responsibility is to protect consumers and help them feel confident that all insurance producers are operating legitimately and in the best interest of those they serve,“ said Director Dean Cameron. “Idaho Insurance Code exists to protect Idaho consumers and agents are required to abide by it.”

According to a verified complaint in the matter, Jachetta received two premium checks from an injured person in November 2017. The two checks were in the amount of $193.12 and $72.30, respectively. On the same day, she received cash premiums of $169, $100 and $231, according to the complaint.

The department contends Jachetta failed to deposit the two checks and the cash within the required time frame.

Keith Kinnaird can be reached by email at kkinnaird@bonnercountydailybee.com and follow him on Twitter @KeithDailyBee.