The Utah Insurance Department has taken action against three insurance agents.

The insurance license of Terry G. Aiken, Pleasant Grove, and his agency, Insurance Superstore Aiken Insurance Agency, has been revoked.The department said that, in an administrative proceeding against Aiken, it was found that he had "accepted funds as premium and failed to forward these funds within the time allotted to an insurer or place them in a trust account; converted funds he received in a fiduciary capacity to his own use; and provided false evidence of insurance where no insurance coverage existed."

Aiken is no longer authorized to handle insurance business of any kind, the department said.

Dennis D. McCormack, Orem, and his agency Workers' Compensation Insurance Solutions Agency Inc., also faced discipline.

The department suspended McCormack's insurance license, with authority to sell life, health and variable insurance, until July 30 and fined him $2,500. On July 31, McCormack's license will be placed on supervisory probation for 12 months and then unsupervisory probation for another 12 months. In addition, McCormack's' agency license was revoked.

The department found that McCormack "acted as an insurance consultant without a license; provided misleading information in connection with the sale of insurance to replace workers compensation insurance by failing to disclose material information and failed to place fiduciary funds into a trust account in a timely manner."

The insurance license of Lyndee A. Dunn, Roy, was revoked. She had been allowed to market real estate title insurance and perform escrow closings on sales.

The department had filed a complaint against Dunn alleging she had "failed to maintain escrow funds in a trust account and to disburse them only in accordance with escrow instructions; and, due to a criminal conviction of theft, lacks the character requirement of being trustworthy in order to hold an insurance license. After Ms. Dunn failed to file a response to the complaint within the time allowed by law, the allegations were deemed admitted" and her license was revoked.