I'd love to hear "what would you do" after you've encountered a situation where an agent has willfully and intentionally misrepresented risks just to get cheap quotes? I've ran across several clients recently who have policies that were submitted and bound with information totally different from what they reported to the agent who wrote the policy. In fact we we have ran across business that this agent had on the books for years that didn't even qualify and it was there because he totally misrepresented the risk just to get it written. First time or two I figured it was just an honest mistake - now I know different. This agent is putting in bogus information to get cheap rates that no one else can touch because they are representing the risk honestly and he isn't. What would you do? Allow it to continue knowing that it's putting consumers at risk? Just continue to educate your prospects/clients?
Recommended Action When Encountering Agent Misrepresentation Repeatedly
- Thread starter txagt39
- Start date
- 297
If you want to blister the agent, you could call the insurance company with the insured with you and ask about the information listed on the application. Have the insured tell them that they disclosed the information to the agent(stroke,smoking,heart etc) and he still clean sheeted the application. Do that a few times and the company will probably nail him or her.
I have come across this in the past and if its bad enough I dont have a problem reporting them to the department of insurance. I take great pride in what I do for a living and I want to keep my industry strong with a good reputation. I dont ever want anyone to roll their eyes when I say I sell insurance because of an unethical agent experience they had in the past. If an agent cant earn business without lying he or she doesnt belong in the industry. Just my humble opinion.
- 2,758
I think it would be a rational assumption that they were talking about the health questions section of the application.
How do you figure.. a misrepresentation is a misrepresentation.. Companies ask questions, including employment, for a reason. An agent that will shade the truth (lie) on what he considers minor items will do it on the majors if the chips are down and he thinks he can get away with it.
