| Mike's Comments |
May 31, 2010More Insurance Scams! The latest scams, which always increase during difficult market conditions, are advertising very low rates in local papers and once again, the method of payment for the premium is often moneygrams or Western Union transfers. Bells and whistles ought to be going off immdiately if anyone ever says you have to pay your premium this way (in 18 years in the business I have NEVER seen a legitimate company accept premium payments in this manner), but unfortunately, people are still being duped. The loss of the premium payment is one thing, but far worse is when the victim is involved in a serious accident and finds out that there never was a valid policy in the first place. During difficult economic times, scams and fraudulent activity seem to explode across all industries. As consumers, we have to be more dilligent than ever to double check any 'deal' if it seems too good to be true. Anyone who suspects they have already purchased, or are about to purchase fraudulent insurance is encouraged to contact local police or call the Canadian Anti-fraud Centre at 1-888-495-8501. Michael Stuart, BBA, FCIP, CRM, CAIB Grant, Jones & Stuart Insurance Brokers Phone: 905-470-2732 ext 225 Toll Free: 1-800-445-2270 Fax: 905-470-2762 |