The Florida Office of Insurance Regulation issued a cease and desist order to American Assurance Underwriters Group and its affiliates, Worldwide Expatriate Administrators LLC and Worldwide Expatriate Advisors LLC, which are selling health insurance in Florida. The State insurance regulators determined the companies marketed and sold health insurance that was underwritten by AAUG Insurance Co. Ltd. without a license.
AAUG Insurance Company Ltd. is a captive insurance company licensed by the British Virgin Islands and, by words of officials, it does not hold a certificate of authority from the Office of Insurance Regulation.
BVI company and its affiliates have 21 days to challenge the action. AAUG’s executive Roy Alvarado said that they did not receive the order and would not comment until they receive and analyze it.
In September 2009, AAUG’s president Mr. Gregory spoke at a conference about the licensing issues and other regulations associated with global health insurance products in Orlando, Florida.