And then there are the excuses—some lame, some hysterical—that have insurers shaking their heads and rolling over in laughter.
If you’re a senior, there’s an army of criminals targeting you and estimates from the Federal Trade Commission say one in five seniors fall victim to their fraud operations. The scams come in a variety of flavors. Using “social engineering” methods and sophisticated online data-phishing techniques, the scammers see one thing when they contact a […]
Consumer fraud has become the Federal Trade Commission’s number one reported complaint for 2018, according to the agency’s Commission’s Consumer Sentinel Network Data Book released to the public in February 2019. The ‘sentinel,’ as the data book has been coined, houses every reported complaint to the FTC each calendar year and is readily accessed by law enforcement but only available to the public in the next calendar year.
The National Association of Insurance Commissioners adopted the model regulation, which is a new regulation aimed at protecting consumer and fostering consumer education. Under this regulation, new standardized procedures for policy illustrations were created to help ensure that all illustrations are not providing misleading information.