Missouri Department of Commerce and Insurance refuses producer license for owner of C…

JEFFERSON CITY, Mo. - Following multiple violations of state law, the Missouri Department of Commerce and Insurance (DCI) has refused to issue an insurance producer license to Mychal Walker, owner of Monarch Title Company, Inc., located in Columbia, Missouri. The business entity producer license for The Walker Agency, LLC, has also been refused by DCI Director Angela Nelson.

Monarch Title Company, Inc., closed its doors in December 2024 after the department was notified that the sole insurer for Monarch had terminated its contract and Monarch no longer had authorization to sell, solicit or negotiate title insurance contracts.

"Missourians deserve to work with licensed, accountable professionals they can trust," Director Nelson said. "When individuals and businesses fail to follow the law, especially in ways that put consumers at risk, we will take every action to protect the public."

Due to its abrupt cessation of business operations, Monarch's unsuspecting customers could no longer obtain access to their rightfully owned funds held in Monarch's escrow accounts. To prevent further harm to title consumers, DCI intervened and obtained a court order to take charge and control of Monarch's escrow accounts.

"DCI will always put the fair treatment of Missourians first, and we are committed to ensuring every consumer recovers what is rightfully theirs," Director Nelson said. "We encourage clients of Monarch Title to check their policies for an insurance company contact number and then call to make sure their policies are legitimate. If you can't find your policy or a contact number, please reach out to our Consumer Affairs Agent Investigation Section at 573-751-1922 for assistance."

To view the refusal orders and other enforcement actions issued by the department, visit insurance.mo.gov/enforcement-actions . Consumers who believe an agent or insurance company has violated Missouri law are encouraged to file a complaint online , via mail or fax, or by calling DCI's Consumer Hotline at 800-726-7390.

DCI is charged with protecting Missouri consumers through oversight of the insurance industry, banks, credit unions, utilities and various professional licensees operating in the state. For more information about the department, please visit our website at dci.mo.gov .