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Insurance Agent Josh Casada Accused of Taking $205,000 in PremiumsLock Icon

2 min read

It looks like things are getting worse for a former Little Rock insurance agent and his business.

In December, Josh Eric Casada and Casada Insurance Group Inc. lost their licenses to sell insurance. A consent order filed by the Arkansas Insurance Department says Casada allegedly funneled premiums to himself “on multiple occasions.”

The agency was first incorporated in December 2015, and Casada was licensed to write accident, health, property, casualty and life insurance.

Casada didn’t challenge the allegations that resulted in the AID revoking his producer license and his agency’s license to handle insurance, the consent order said.

A lawsuit filed earlier this month in Pulaski County Circuit Court shed more light on Casada’s business practices.

IPFS Corp. of Kansas City, Missouri, said in its civil complaint that it provided Casada with a total of $205,000 between August and October to finance insurance premiums for customers. Casada was supposed to forward that money to insurance carriers, according to the lawsuit filed by IPFS’ attorney, Raymond Harrill of Little Rock. But the lawsuit said he never did.

IPFS wants its $205,000 back and other damages from Casada and his agency. They are being sued for breach of contract, fraud and breach of fiduciary duty.

Harrill told Whispers that he suggested to the AID “that this was worthy of police investigation, but whether anybody did anything, I don’t know.”

“The man needs to be prosecuted, in my opinion,” he said.

Harrill said he didn’t know if there was a police investigation into the allegations.

AID spokesman Ryan James said he couldn’t comment on active investigations or acknowledge that one is ongoing.

As of Thursday, Casada hadn’t responded to the lawsuit and voice messages left at Casada Insurance weren’t returned.

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