Wells Fargo insurance license may be suspended or revoked in California

Wells Fargo insurance scandal

The state Department of Insurance is seeking the action following alleged improper sales practices. The California Department of Insurance has revealed that it is planning to either suspend or revoke the Wells Fargo insurance license in the state. It is pursuing this intention as a result of the company’s online insurance referral program and its allegedly improper sales practices. The department conducted an investigation that revealed around 1,500 improper insurance sales. In those cases, the online Wells Fargo insurance company was allegedly found to have sold about 1,500 policies and…

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Tips to consider when buying insurance

Regardless of what kind of insurance you require, there are a few things that you should keep in mind before you commit to a certain policy, so that you’ll know that you’ve chosen the right one for you, and at the best price available. Planning is the best thing that you can do to make sure that you have the right amount of coverage, and that you’re paying the lowest rates for that protection. Remember that just because it’s the lowest price, it doesn’t mean that it’s the best policy.…

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Survey shows most wealthy people in the United States fear liability lawsuits due to economy

According to a study released by ACE Private Risk Services, the wealthiest families in the United States have a growing concern over the way the uncertain economy may lead to costly liability lawsuits. However, the survey also showed that regardless of this belief, those families with established or emerging wealth have failed to obtain enough liability insurance to properly cover themselves. This indicates a lack of preparation for the lawsuits that they are concerned will occur. This group appears to have a tendency to underestimate how costly these types of…

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Understanding the basics of condo insurance

Condo owners, similar to owners of houses, can greatly benefit from the coverage provided by insurance that protects them from damage to their property, as well as from liability. Many condo owners do have questions about condo insurance, however, as it is slightly different from the typical homeowners policy. Though they remain quite similar, there are some ways in which they differ due to the nature of the condo itself. In order to find out what types of insurance are available to your condo, speak with an insurance provider. Many…

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Water safety must be continued throughout the length of the season

Even though the summer is on its way to a close, it remains just as important to keep up proper water safety efforts as it was at the very beginning of the season and at its hottest points. According to the coordinator for the Safe Kids of Douglas County, Meaghan Tilton, the second most common cause of death among children between the ages of 1 and 4 is drowning. She explained that “We’re focusing on pool safety because that’s where younger children are most likely to drown.” The program is…

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Basic highlights on top four insurance companies to help consumers

Throughout the financial crisis over the last few years, a number of insurance companies faced a significant struggle, leaving people to wonder about the top insurers after having seen the global giant American International Group (AIG) fall apart.  In order to help consumers to better understand the current the insurance marketplace, experts have compiled some notes about the top four leading companies.  Progressive is among the biggest American auto insurance companies.  It provides standard vehicle insurance as well as products for specialty vehicles such as ATVs, mobile homes, motorcycles, boats…

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Hogan’s malpractice suit gets thrown out

Wells Fargo Insurance Services Inc. in Florida has been sued for business malpractice by celebrity Hulk Hogan. Mr. Hogan (real name Terry Bollea) sued Wells Fargo for failing to protect his assets properly, by providing him with an umbrella policy. Mr. Hogan was sued over an auto accident his son had in 2007, which left a passenger in his car with permanent brain damage. Even though both vehicles involved in the accident were his own; his vehicles’ insurance maximum payment was 250 thousand, per vehicle. With inadequate coverage, he was…

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