California Agent Guilty of $48,207 Theft from Clients

December 7, 2009

  • December 7, 2009 at 1:45 am
    theinsexpert says:
    Like or Dislike:
    Thumb up 0
    Thumb down 0

    Perhaps in this economy brokers/agents assoc.s s/b providing peers with a published, general exit strategy when business runs down and they can’t live or provide on just the commissions, vs. panicking & pocketing the premiums. As in, “How to sell your book fast and become an agent for someone else, vs. a thief.” Are these acts of desperation or just criminals?

  • December 8, 2009 at 4:21 am
    Stayin' Alive says:
    Like or Dislike:
    Thumb up 0
    Thumb down 0

    1. Channel collected premiums into your operating account. Use the money any way you want! Let the insured receive a notice of cancellation for non pay even though the premium was paid in full months ago. Tell the irate insured your accounting person has been out sick for a month. Or that the carrier’s new computer system has a glitch.
    2. Tell the Unemployment folks the person you laid off was fired for wrongful misconduct so your unemployment insurance premiums don’t increase.
    3. After you’ve laid off a few employees and tried to cheat them out of unemployment benefits, really lay the pressure on your remaing employees. Remind them how fortunate they are to still have a job in this lousy economy.



Add a Comment

Your email address will not be published. Required fields are marked *

*