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Insurance Business | 17 Mar 2017, 11:35 AM Agree 0
Many expecting levels of bribery to increase during the year ahead
  • Anonymous | 17 Mar 2017, 01:08 PM Agree 0
    From my experience Bribes are mostly happening in the new & used car industry where most agents get their start! What is more dangerous & common are agents misrepresenting & or their lack of knowledge of Insurance! Yes most states have continuing education but it doesn't seem to be working! The insurance companies give contracts to anybody with a license! They should have them take a class & a test on the products they offer before giving contracts.
  • Insurance Spartan | 17 Mar 2017, 01:39 PM Agree 0
    Agree w Anonymous above. But the problem being referred to begins with the low barrier to entry (ie- the simple study/exam requirements to get an insurance license from the state). But regarding the article, I have seen plenty of 'soft' bribes in the form of sport or concert tickets, all the way to all expense paid trips to vegas for the week. And it isn't just third parties that create a moral hazard, second party (employees) with decision making authority but no direct financial interest also lead to problems.
  • reba815 | 17 Mar 2017, 02:04 PM Agree 0
    I have been selling insurance close to 30 years. I have seen the problem with commission based sales arrangements that only reward the new policies written without regard to if they stay on the books or are written correctly. A persons morals are sometimes tested because they need to make the sale to make the money & they will do anything to make the sale so they can make the money. This only hurts the agency in the end. Morals vs money, its a long time issue within sales. Some people are willing to take the money & run now vs sticking around in the agency & doing things the right way the 1st time around, regardless of the money. Turn over in an agency is a good indicator if this is going on along with unhappy customers or issues with claims.
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