Des Moines, Iowa – The Iowa Insurance Division recently ordered Hole in Won, LLC, Kevin Kolenda, Hole In Won.com, Hole in Won.com Worldwide, Golf Marketing Worldwide, Compliance HIW, and Amanda Penrose (“Respondents”) to cease and desist acting as an insurer or insurance producer in Iowa without a license. The Respondents were also ordered to pay civil penalties in the amount of $35,000, restitution in the amount of $2,930, and costs of investigation totaling $3,415.
In various instances, the Respondents offered and sold prize indemnity insurance to cover events such as basketball, fishing, and golf contests. The Respondents were not licensed to sell insurance products in Iowa, nor were the prize insurance products submitted to the Iowa Insurance Division for approval. The Respondents failed to pay legitimate claims, timely respond to policyholder questions, and adhere to cease and desist orders issued in other states.
Mr. Kolenda has been convicted of felonies in Connecticut and Washington for similar behavior and he, along with other Respondents, has been subject to administrative actions by state insurance regulators in Connecticut, North Carolina, Washington, Massachusetts, Oregon, Nevada, Virginia, Minnesota, California, and Arkansas.
“Iowans deserve to get what they pay for. These fraudulent practices were designed to mislead consumers and the violations of these laws cause harm to Iowans. Our objective here is to draw the public’s attention to this scheme in hopes of preventing them from falling victim,” Chance McElhaney, Iowa Insurance Division spokesman said. “There are plenty of local insurance agents to reach out if you are in need of a product like this. We encourage Iowans to contact the Iowa Insurance Division to file a complaint with our office whenever something doesn’t seem quite right about an offer of insurance or an insurance purchase that you made.”
Iowans can double-check to ensure the person they are looking to purchase an insurance product from is properly licensed by contacting the Iowa Insurance Division.