CEU.com Blog

J.D. Power study indicates that contact remains a primary driver of insurance agent satisfaction.

In February, J.D. Power and Associates released the results of its 2010 Insurance Agency Satisfaction Study: Personal Lines. These results indicated that insurers whose agents are highly satisfied tend to receive a considerably greater share of business from those agents. Read More »

Throughout both political and business circles, few topics have garnered as much media coverage as “ethics” – and, in many cases, what seems to be a lack of them. Many prominent people, from CEOs to governors, are finding themselves in serious trouble because they acted in an unethical manner, and their companies and constituents ended up paying the price.

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A recent article in Insurance Journal suggests that the use of fingerprinting during background checks of would-be insurance producers can be very effective in weeding out convicted criminals. Fingerprinting, however, is not utilized everywhere. According to the article, only 17 states require producers to submit fingerprints as part of the license application process, and more than 30 states are actually forbidden by law from obtaining fingerprints. Criminal background checks are still performed in virtually all cases, but fingerprints would allow for more extensive checks.

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An unusually targeted identity theft scam has been uncovered this summer. People posing as insurance industry regulators are calling agents and telling them they’ve committed some sort of infraction. The scammers then demand payment (of the alleged “penalties” or other bogus fees) over the phone via credit card. If the agent refuses to give up the credit card information, the scammer threatens the agent with the loss of his or her license. In some instances, the caller even asks the agent for his or her social security number and date of birth, making identity theft that much easier. 

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On June 17, 2009, the Treasury Department issued a white paper called “Financial Regulatory Reform: A New Foundation.” This paper had been eagerly anticipated, as it was expected to outline the administration’s position on insurance industry oversight. Specifically, some insurance insiders thought the Treasury Department might propose a federal-level insurance industry regulator.

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