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Commissioner King calls for GUA board to step down. (Photo: GUA)

On Monday, Georgia Insurance Commissioner John F. King called for the resignation of the board members of the Georgia Underwriting Association (GUA), as well as an audit of GUA’s books.

Former Insurance Commissioner Jim Beck was indicted in May on multiple fraud and money-laundering charges, and was accused of embezzling more than $2 million from GUA, where he served as manager of operations. The indictment alleged Beck siphoned funds from the GUA for at least five years before he was elected insurance commissioner.

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Heather A. Turner

Heather A. Turner is the managing editor of ALM's NU Property & Casualty Group. She can be reached at [email protected].

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