Two insurance agents in New Jersey were fined $5,000 each for improperly filing an annuity application with Great Southern Life Insurance Co.

Warren F. Losey Sr., who operates an agency, Warren F. Losey, Sr. Inc., in Union, N.J., was found to have signed an annuity application as an agent of the GSLIC even though he never met the applicant, had never discussed whether the annuity was appropriate for the applicant, and with knowledge that he was signing an application that had been solicited and completed by a producer who was not an agent of the insurer, according to New Jersey Department of Banking and Insurance records.

The other agent, Robert M. Dash of Springfield, N.J., was found to have assisted in the submission of the annuity application, knowing that Losey was not an agent of the insurer. Dash also was found to have procured the signature of Losey, who was an agent on the annuity application, records indicate.

Losey and his company, who were both named in the case, told NJDOBI officials that he and the company did not intentionally violate state laws, but rather admitted to negligently handling the annuity application, records show.