Zenefits slapped with unlicensed insurance sales fine

auto insurance practices fine penalty

New York regulator has fined the startup $1.2 million for selling health benefits without adequate licensing. Zenefits, a health benefits broker, has been hit with a $1.2 million fine by the financial services regulator in New York. The penalty was issued for allowing unlicensed insurance agents to advise, negotiate and sell health insurance policies. This is only the most recent regulatory strike against the software startup and is likely to be a painful one. Zenefits is no stranger to being accused of unlicensed insurance activities. The first of these issues…

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State Farm Insurance and other insurers slapped with Washington fines

state farm insurance and insurer fines

The state’s insurance commissioner has issued the penalties to brokers and agents as well. Washington Insurance Commissioner Mike Kreidler has slapped State Farm Insurance, other insurers, agents and brokers with a number of fines throughout January. These fines totaled $15,000 and were issued for having violated the state’s insurance industry regulations. The largest fines the commissioner doled out were to State Farm Fire & Casualty Co. from Bloomington, Indiana. State Farm Insurance saw two thirds of the total fines from the Washington insurance commissioner. They were ordered to pay $10,000…

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Classic motorcycle insurance differs greatly from standard policies

classic motorcycle insurance safety program

They may be in a similar category of vehicles, but the type of coverage they require is quite different. Classic motorcycle insurance, like the coverage for vintage and antique bikes look very similar to standard policies but are different in important ways. These motorcycle insurance policies provide the same types of coverage overall. They protect against personal property and bodily injury liability. They also provide the option of coverage for other perils. That said, classic and vintage motorcycle insurance provides a higher level of cover for more expensive rides. Riders…

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Insurance industry social media can define an agent’s success

Insurance industry social media

A massive generation of consumers depends on social and mobile but many agents and brokers aren’t keeping up. From the point of view of the Millennial generation, insurance industry social media is, for the most part, lacking. Sure, the large insurers all have their own Facebook page and Twitter accounts, but many agents and brokers don’t. Failing to provide even the most basic experience on social platforms can be a critical mistake. The main problem with insurance industry social media is that the presence simply isn’t there when it should…

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Allstate insurance company named among 100 best companies for working mothers

Allstate insurance company

Working Mother magazine has rated the insurer as among the best place in 2015 to be employed. Working Mother magazine has released the list of businesses that make up the 2015 Working Mother 100 best Companies and it has named the Allstate insurance company as being among those that are the most committed to implementing policies and programs that make it possible for working moms to be both the best employees and the best parents they can. Allstate Insurance has made a concerted effort through a range of strategies that…

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Mobile technology offers insurance agents crucial resources

insurance agent mobile technology

There are certain gadgets and sites that professionals in this industry simply can’t afford to miss. While virtually any insurance agent will agree that face to face interaction remains a vital component of the way they do business, at the same time, it can’t be denied that mobile technology gadgets are also playing a role that cannot be ignored. Personalized interaction is critical when doing business with clients, but mobile tech keeps agents ever connected. The way that insurance agents do business has undergone a massive shift over the last…

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Internet or insurance agent – Will websites shut down neighborhood agencies?

Insurance Agent News

As more people go online to shop for and purchase policies, what will happen to professionals in this industry? Despite the fact that many large insurers are making it possible for consumers to shop online to purchase the coverage that they need, many still feel that the insurance agent still does – and will continue to – play a vital role in this industry and agencies won’t be headed anywhere for the next several years. In fact, at the same time that websites are offering more self-service features, more agents…

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Insurance agent loses license after alleged DNA fraud

DNA genetic insurance agent

The former employee of Mukilteo State Farm following a number of different ethical violations. A former insurance agent named Jaime Sue Joyner, previously of Mukilteo State Farm, has now had her license revoked by Washington state after investigators discovered that she had been involved in a number of activities that are not permitted. Joyner was allegedly involved in a number of different ethical violations while she was on the job. Among the ethical violations of which she has been accused was submitting a sample of her own DNA in place…

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Homeowners insurance focused agents are missing large opportunity

insurance agents

A new J.D. Power report has shown that these professionals are not taking advantage of the long term benefit of renter customers. According to a new report from J.D. Power, agents who place all of their focus on homeowners insurance customers are not taking advantage of the opportunity offered to them for greater long term success that stems from the relationships that they can build with renter customers. As the needs of tenants grow, due to changes in their lives or circumstances, they could provide additional opportunities. Renters coverage may…

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How to find the best options for auto insurance in Phoenix

Anyone who is looking for auto insurance in Phoenix will want to shop carefully. The wrong choice can be not only costly in terms of premiums but may not give the customer the right coverage. Full coverage or PL/PD? Policies fall into to two basic categories. Full coverage is the more robust package. It covers damage to the driver’s car in addition to the car of the other party. This kind is a requirement if the car is a fairly expensive or newer one as well as if the car…

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