Man's Hole-In-One Insurance Called Bogus
August 27, 2012 by UPI - United Press International, Inc.
SEATTLE, (UPI) – The Washington state insurance commissioner filed charges against a businessman who allegedly reneged on hole-in-one insurance he provided for golf tournaments.
Kevin Kolenda, 54, of Connecticut was charged this week with five counts of transacting insurance without a license after allegedly failing to pay up when golfers sank a hole in one.
Big cash prizes for aces are commonplace at corporate and charity golf tournaments, and organizers generally take out an insurance policy that will pay off if someone actually makes a hole in one rather than have to pony up out of their own pockets.
Insurance Commissioner Mike Kreidler said in a written statement that in three cases since 2004, Kolenda allegedly failed to pay between $10,000 and $50,000 for a hole in one that was made.
Kolenda, who operated at Golf Marketing, also allegedly ignored a previous cease-and-desist order from Kreidler’s office, The Seattle Times reported Thursday.
“We’ve been warning the public about Mr. Kolenda’s scam for years,” said Kreidler. “He has a long history of selling illegal insurance, refusing to pay prize winners and thumbing his nose at regulators.”