New Unauthorized Insurer Scam Alerts
Be a Smart Insurance Agent!
Insurance Lead Sources Reviewed
I just noticed that the Texas Department of Insurance (TDI) has published an alert for PPOs to be aware of signing contracts with anauthorized insurance companies. That is kind of scary. If the TDI thinks that PPO organizations can get fooled by unauthorized insurers, then they are certainly certainly aware that insurance agents, and especially consumers, can get duped too!
I know its easy to get complacent, and be attracted by the promise of making an offer for a low insurance rate with easy underwriting to our clients! However, if you are an American insurance agent, you know underwriting is strict and premiums are not cheap. We should be able to advise our clients on ways to cut insurance premiums, but if an offer looks to good to be true, than we need to face the possiblity that it is!
Actually, the Federal Office of Accountability has published warnings that over 200,000 policy holders have been impacted by unauthorized insurers in a three year period. Many of these policy holders were part of small business groups, so not all were individuals. I am certain that many of the insurance agents who had their careers ruined over this, did not realize that they had been recruited by illegal insurers, but thought they had found their clients a great deal!
Before soliciting business for any insurer, especially one that you have not worked with before, contact your state insurance department. A simple phone call can save your business.
Insurance Lead Sources Reviewed
I just noticed that the Texas Department of Insurance (TDI) has published an alert for PPOs to be aware of signing contracts with anauthorized insurance companies. That is kind of scary. If the TDI thinks that PPO organizations can get fooled by unauthorized insurers, then they are certainly certainly aware that insurance agents, and especially consumers, can get duped too!
I know its easy to get complacent, and be attracted by the promise of making an offer for a low insurance rate with easy underwriting to our clients! However, if you are an American insurance agent, you know underwriting is strict and premiums are not cheap. We should be able to advise our clients on ways to cut insurance premiums, but if an offer looks to good to be true, than we need to face the possiblity that it is!
Actually, the Federal Office of Accountability has published warnings that over 200,000 policy holders have been impacted by unauthorized insurers in a three year period. Many of these policy holders were part of small business groups, so not all were individuals. I am certain that many of the insurance agents who had their careers ruined over this, did not realize that they had been recruited by illegal insurers, but thought they had found their clients a great deal!
Before soliciting business for any insurer, especially one that you have not worked with before, contact your state insurance department. A simple phone call can save your business.
Labels: health insurance scams, insurance scams, unauthorized insurers
posted by Mar at 9:36 AM
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