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21-02-2018, 05:55
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#1
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Registered User
Join Date: Aug 2012
Location: New Hampshire
Boat: Gulfstar 50 ketch
Posts: 255
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Alert! Insurance Fraud
So let's try this:
A man and a woman selling marine insurance in Florida sold their business last fall to another marine insurance business in Florida. In the process, they kept some of the premiums which should have been sent to the underwriters in London and elsewhere. 30-50 accounts were affected. The insurance authorities in Florida, Mississippi and North Carolina have launched investigations. The new insurance agency is cooperating. A few days ago, the new agency sent my entire file to these authorities, and presumably they are doing this for all others affected.
If your insurance was cancelled for non-payment, by now you know who you are. Most people were notified in January.
If you would like contact info for the authorities in the above states, send me a private message or search on all the Caribbean Facebook pages. You may never get your money back, but you will feel better working as a team on this.
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21-02-2018, 07:16
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#2
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Registered User
Join Date: Nov 2017
Location: On the Water
Boat: 53' Cutter
Posts: 193
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Re: Alert! Insurance Fraud
Quote:
Originally Posted by Calypso52
So let's try this:
I BOUGHT A POLICY FROM a man and a woman selling marine insurance in Florida WHO sold their business last fall to another marine insurance business in Florida. In the process, they kept MY premiums which should have been sent to the underwriters in London and elsewhere. OTHER accounts MAY HAVE BEEN affected. The insurance authorities in Florida, Mississippi and North Carolina have launched investigations. The new insurance agency is cooperating. A few days ago, the new agency sent my entire file to these authorities, and presumably they are doing this for all others affected.
If your insurance was cancelled for non-payment, by now you know who you are. Most people were notified in January.
If you would like contact info for the authorities in the above states, send me a private message or search on all the Caribbean Facebook pages. I may never get MY money back, but I WOULD feel better working as a team on this with others WHO MAY BE AFFECTED.
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Fixed it for you.
When making claims about individuals or businesses, you need to make it personal to you and your experiences. Your experiences belong to you. When you extend your personal experiences to others who may or may not have been affected, that is considered defamation, especially if you cannot prove that others are/were affected.
It is one of the few times that using "I and my" regularly and often is a good thing.
If you buy a "lemon" vehicle, you cannot say "XYZ sells lemons," but you can say "XYZ sold me a lemon."
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21-02-2018, 07:25
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#3
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Registered User
Join Date: Aug 2012
Location: New Hampshire
Boat: Gulfstar 50 ketch
Posts: 255
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Re: Alert! Insurance Fraud
Great, thanks for the fixes!
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21-02-2018, 07:58
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#4
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Registered User
Join Date: Apr 2016
Location: Back on dirt in Florida
Boat: Currently in between
Posts: 1,338
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Re: Alert! Insurance Fraud
Quote:
Originally Posted by SailsWithFists
If you buy a "lemon" vehicle, you cannot say "XYZ sells lemons," but you can say "XYZ sold me a lemon."
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Now that is good information to know!
__________________
SV Bacchus - Living the good life!
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21-02-2018, 08:08
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#5
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Moderator
Join Date: Mar 2008
Location: Rhode Island/Florida USA
Posts: 3,382
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Re: Alert! Insurance Fraud
Quote:
Originally Posted by Calypso52
...or search on all the Caribbean Facebook pages.
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I'm not even sure how one would go about executing such a search.
Quote:
Originally Posted by Calypso52
You may never get your money back, but you will feel better working as a team on this.
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Technically, if you didn't have a claim.......what money are you due?? How much of the premium was paid beyond the coverage?
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21-02-2018, 08:18
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#6
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Registered User
Join Date: Mar 2014
Location: Oz
Posts: 1,042
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Re: Alert! Insurance Fraud
Quote:
Originally Posted by Shrew
I'm not even sure how one would go about executing such a search.
Technically, if you didn't have a claim.......what money are you due?? How much of the premium was paid beyond the coverage?
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You would want a refund of the premium paid, because there is no cover. IF you pay $5000 for 12 months cover and 6 months later you find you have no cover, you would take out fresh cover and ask for $2500 back from the original broker. If you had a claim in that first six months then that would be additional as well.
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21-02-2018, 09:07
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#7
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Moderator
Join Date: Mar 2008
Location: Rhode Island/Florida USA
Posts: 3,382
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Re: Alert! Insurance Fraud
Quote:
Originally Posted by Bean Counter
You would want a refund of the premium paid, because there is no cover. IF you pay $5000 for 12 months cover and 6 months later you find you have no cover, you would take out fresh cover and ask for $2500 back from the original broker. If you had a claim in that first six months then that would be additional as well.
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Hence my question.. "How much of the premium was paid beyond the coverage?" Are we talking 1 month? The entire year. Most insurance companies are pretty quick with notices if you miss a premium payment.
Are we making a huge deal out of $100??
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21-02-2018, 09:20
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#8
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Registered User
Join Date: Mar 2007
Location: Santa Cruz
Boat: SAnta Cruz 27
Posts: 7,211
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Re: Alert! Insurance Fraud
It is a big deal if there is a claim. Years ago there was a guy in Antigua selling Lloyds policies who generated fake policies, never told Lloyds about them, and pocketed the money. He even paid some claims.
Then a hurricane hit, and he skipped town. Because he was a genuine Lloyds agent, Lloyds paid many of the claims. Some years later the guy flew to England, and as soon as immigration scanned his passport they slapped the handcuffs on him.
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21-02-2018, 11:54
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#9
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Moderator
Join Date: Mar 2008
Location: Rhode Island/Florida USA
Posts: 3,382
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Re: Alert! Insurance Fraud
Quote:
Originally Posted by donradcliffe
It is a big deal if there is a claim.
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Was there a claim?? I touched on that in the same reply. I'm asking for clarification of the scope of the impact. Not the 'potential' impact. IF we're talking about actual restitution, then we need to define the loss.
If you paid for insurance in January, then found out you weren't actually covered during that period, and had to claims, are you due the money back?
I didn't have any claims last year, I'm not entitle to my premiums back. The action of the agent only jeopardized the OP's ability to submit a claim and caused his policy to be cancelled. However, there was no actual loss by the OP.
Again, are we arguing over $100 here?
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21-02-2018, 11:55
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#10
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Moderator
Join Date: Mar 2008
Location: Rhode Island/Florida USA
Posts: 3,382
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Re: Alert! Insurance Fraud
Incidentally, you should have had coverage under the agents 'Errors and Omissions' policy should a problem occurred.
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21-02-2018, 12:04
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#11
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Registered User
Join Date: Jul 2005
Location: Bellingham
Boat: Outbound 44
Posts: 9,319
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Re: Alert! Insurance Fraud
Quote:
Originally Posted by Shrew
Was there a claim?? I touched on that in the same reply. I'm asking for clarification of the scope of the impact. Not the 'potential' impact. IF we're talking about actual restitution, then we need to define the loss.
If you paid for insurance in January, then found out you weren't actually covered during that period, and had to claims, are you due the money back?
I didn't have any claims last year, I'm not entitle to my premiums back. The action of the agent only jeopardized the OP's ability to submit a claim and caused his policy to be cancelled. However, there was no actual loss by the OP.
Again, are we arguing over $100 here?
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Of course you are due the money back. This was a fraudulent contract, certainly you don't think the broker should keep the money, do you?
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21-02-2018, 12:06
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#12
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Registered User
Join Date: Jul 2005
Location: Bellingham
Boat: Outbound 44
Posts: 9,319
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Re: Alert! Insurance Fraud
Quote:
Originally Posted by Shrew
Incidentally, you should have had coverage under the agents 'Errors and Omissions' policy should a problem occurred.
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You think a broker who runs off with the policy payments keeps his E and O policy paid up?
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21-02-2018, 12:09
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#13
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֍֎֍֎֍֎֍֎֍֎
Join Date: Apr 2006
Posts: 15,136
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Re: Alert! Insurance Fraud
Brokerage fraud has been common enough, for a long enough time, that in most if not all US states (including Florida) you must be a licensed broker in that state, in order to sell coverage to any party in that state.
So a Florida broker could not legally sell insurance to a NH boater, unless the broker had a NH brokerage license, or freedom-loving NH waived that requirement, or the boat being insured perhaps was registered to a Florida residential address. There are, as they say, rules.
And part of the money that is collected annually from all licensed brokers generally goes to a pool, which is used to pay claims against brokers and others who have committed this type of theft or fraud.
In Florida, the "insurance department" may actually be lumped in with "consumer affairs" which gets lumped into the department of agriculture. Not the most promising way to handle these things.
If the premium was submitted by post or by wire, then the FBI most reluctantly can be required to get involved because postal fraud and wire fraud may have been committed.
Yes, professional legal advice is required. But the situation is probably not hopeless, if the folks can be found, their kidneys can be taken and sold for repayment. Oh no, wait, that's only in China. (NH loses out again.)
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27-06-2018, 08:24
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#14
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Registered User
Join Date: Feb 2015
Location: Segundo, Colorado
Boat: 1975 Ta Chaio CT41
Posts: 71
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Re: Alert! Insurance Fraud
Imho, if you paid for something and never received it you are due a full refund. Allowing a thief to keep stolen money simply because there was no claim is ludicrous. This individual should be in prison for fraud. Any and all legal expenses for recovery should be included as well.
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27-06-2018, 08:31
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#15
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Marine Service Provider
Join Date: Nov 2008
Location: Port Credit, Ontario or Bahamas
Boat: Benford 38 Fantail Cruiser
Posts: 7,579
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Re: Alert! Insurance Fraud
Quote:
Originally Posted by Shrew
Again, are we arguing over $100 here?
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Irrelevant
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