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A judge ordered a Bradenton company into receivership and its assets liquidated because it illegally sold insurance products without a state license.
Exotic Warranty Company, headquartered in Bradenton, has been placed into the hands of the Florida Department of Financial Services, which will act as receiver in its liquidation.
The company acted as a motor vehicle service agreement company that sold warranties for exotic cars, boats and RVs. According to BlueHummer Outfitters, which billed itself as the official Internet representative of the Exotic Warranty Co., the company was started by a Hummer owner when he could not find the warranty coverage he needed for his own vehicles.
Exotic Warranty, however, was only licensed to serve as a sales entity for a licensed motor vehicle service agreement company and didn't have the authority to issue warranties in its own name.
The business had more than 1,000 customers, mostly in Florida, ...
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