Conflict of Interest Question

Discussion in 'Health Insurance and Ancillary Benefits' started by Elmer123, Aug 8, 2017.

  1. Elmer123
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    Elmer123 New Member

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    I am licensed agent with my own Incorporated Agency. I also work for a family members company (construction) where I handle amongst other things the company benefits. The family owned company health care is run through my insurance agency with the full knowledge of the family member owner. Some one told me that I was violating insurance rules. Was not familiar with such rules that says I can not have a secondary business and sell to a family members whose company I work for. Any insights would be helpful...
     
  2. adjusterjack
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    adjusterjack Guru

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    Some one?

    I doubt if that person has any real clue.

    Well, here's one insight.

    Look up your state's insurance laws with regard to insurance agents.

    The answer will be in there one way or the other.

    If you'd care to post your state, I should be able to find it for you.
     
  3. ///MJay
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    ///MJay Expert

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    Doesn't sound like a clear violation, but as stated more info is needed.

    If you are not giving the company a kickback I don't see any issue there.

    If your agency is viable on its own and the benefits group is not the majority of your business, I don't see any issue there either.

    Violation of either of those could be an issue for you.
     
  4. VolAgent
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    VolAgent Guru

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    Research controlled business for your state.

    I suspect someone is an idiot.
     
  5. adjusterjack
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    adjusterjack Guru

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    "Someones" often are. :yes:
     

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