Hi, need some opinions on this. What if , say, a GA for a major carrier, to satisfy his greed, is using low paid un-licensed people to write business and put the busuness in licensed agents names??? These "agents" are paid much less then his licensed agents and receive his best leads, call-ins etc. (imagine the happy work environment at this agency?) Is it a financial felony to do this and can both the GA and the "agent" be punished? Thanks
What if they were reported to the carriers investigative unit but nothing ever happened as that agency writes a lot of business. Think if the CEO was contacted and presented with evidence that might cause some attention???
Hi, need some opinions on this. What if , say, a GA for a major carrier, to satisfy his greed, is using low paid un-licensed people to write business and put the busuness in licensed agents names??? These "agents" are paid much less then his licensed agents and receive his best leads, call-ins etc. (imagine the happy work environment at this agency?) Is it a financial felony to do this and can both the GA and the "agent" be punished? Thanks
Well, clearly it violates statutes and regulations. Beyond that the specific violations depend of the facts which would need to be established. You ask if it is a "felony" versus maybe a "misdemeanor" versus a civil actiion versus a regulatory violation versus a consumer law violation. Don't know. You would have to know the amounts involved, the state laws, and the facts to see what can be made to stick and not stick.
Also, we now have consumers out there who have financial products where no licensed agent has determined suitability so there is a civil action there, or at minimum to have their policy re-considered.
You ask whether the GA can be punished. Well, of course, but you have to establish that they had knowledge and were complicit and not that they just had a renegade agent or agency under their hierarchy.
Don't overthink it. Just give the DOI sufficient information, even if anonymously, for the ball to be in their court. It shouldnt be all that hard to figure out. If you are just hearing rumors, then stay out of it.
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Depends on how hard your evidence is. If you have hard evidence and have already reported it but no action has been taken then yes, threaten to kick it upstairs.
However, your job is done by just reporting it. I wouldn't waste too much time on it after that.
I have "chat sessions" saved in which the "agent" openly admits they are unlicensed and putting business under other agents names and also mentioning that the GA knows all about it. I have other employees that will confirm this as they have saved those session they had with this 'agent". I also have records from the state site showing that this "agent" was completely unlicensed at the time they were "selling". I also have confrimation that this "agent" at the time they were 'selling" had failed their state 215 test previuosly. Sound good enough???
There was/is more then one person. No, they were hired on as 215 agents without a license. They spoke with clients beginning to end and collected payments. They were dumb enough to go along with this. They were not related to the GA/owner. They were told to put business in other agents names so other licensed agents were also complicit.
I have "chat sessions" saved in which the "agent" openly admits they are unlicensed and putting business under other agents names and also mentioning that the GA knows all about it. I have other employees that will confirm this as they have saved those session they had with this 'agent". I also have records from the state site showing that this "agent" was completely unlicensed at the time they were "selling". I also have confrimation that this "agent" at the time they were 'selling" had failed their state 215 test previuosly. Sound good enough???
We can't try the case here. If you are acting in good faith and have reasonable basis for concluding that violations could have occurred then either talk to the DOI or not. Do not make allegations or accusations when you speak to them. Just say this is what I saw or I heard. "I heard" is hearsay but it doesnt matter. You are only providing the DOI with a basis to look into it further.
That being the case, I would write a letter to the DOI (or call) and wash my hands of that place. At that point, you've fulfilled your obligation and can move on. JMHO of course.
I had a customer recently tell me that she didn't know why you need a license to sell insurance. She has the crazy thought that it is a racket. Nothing could be further from the truth...
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"Some are weather-wise, some are otherwise."
- Benjamin Franklin
Using Un-licensed "Agents"???
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