Ethics question

TJ Swan

New Member
8
Hello All,

I'm pretty new to insurance and brand new to the forum. This is a great resource!

I have a scenario I need feedback on: a top selling Life producer is quoting and selling policies to people in states he isn't licensed in. He is signing their name to paperwork in the office and completing affidavits stating that the out of state client was in his office when the policy was sold, which is not the case. I'm pretty sure his broker knows but looks the other way because of the obvious upside of all the sales. Is this a major problem, and should someone blow the whistle? If yes, how?
 
Hello All,

I'm pretty new to insurance and brand new to the forum. This is a great resource!

I have a scenario I need feedback on: a top selling Life producer is quoting and selling policies to people in states he isn't licensed in. He is signing their name to paperwork in the office and completing affidavits stating that the out of state client was in his office when the policy was sold, which is not the case. I'm pretty sure his broker knows but looks the other way because of the obvious upside of all the sales. Is this a major problem, and should someone blow the whistle? If yes, how?
Hell yes this is a major problem.......don't do what he does......
 
Hello All,

I'm pretty new to insurance and brand new to the forum. This is a great resource!

I have a scenario I need feedback on: a top selling Life producer is quoting and selling policies to people in states he isn't licensed in. He is signing their name to paperwork in the office and completing affidavits stating that the out of state client was in his office when the policy was sold, which is not the case. I'm pretty sure his broker knows but looks the other way because of the obvious upside of all the sales. Is this a major problem, and should someone blow the whistle? If yes, how?
Turn him in to the police!!! :policeman:
 
There should be a compliance department in one of the carriers he uses or even someone above the guy in the office that looks the other way. You can contact them and let them know. They will look into it.
 
a top selling Life producer is quoting and selling policies to people in states he isn't licensed in.

So how are the policies going to get issued? You have to be licensed and appointed with each company in each state you are selling. That, or he's operating under the agency authority and the principal agent is the one who is licensed.

He is signing their name to paperwork in the office

He's using ACTUAL paper? There are e-applications where it is possible to get an electronic signature without having been in the office...

and completing affidavits stating that the out of state client was in his office when the policy was sold, which is not the case.

Insurance companies aren't dumb. Once they find the trend, they'll see how he's been operating and for how long.

I'm pretty sure his broker knows but looks the other way because of the obvious upside of all the sales. Is this a major problem, and should someone blow the whistle? If yes, how?

The person you contact is your company's HR department FIRST... and then you contact an internal "whistle-blower" hotline and/or other internal compliance department. Tell them what you've seen, but you must maintain your anonymity.

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Realizing all these things, once the obvious pattern is realized, it won't be hard for ANYONE with half a brain to figure out what this guy has been doing and terminate him FOR CAUSE... and possibly the agent for sanctioning it.
 
Note: This actually isn't an ethics question. This was a question about insurance laws. According to your post, there are way too many LAWS being broken here.
 
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