According to www.insurancejournal.com, another agent has taken advantage of his clients. John Craig Welch has been accused of "misappropriated premiums and other funds from his agency totaling over $20,000. It is alleged that after Welch collected premiums from policyholders and issued them a receipt he pocketed the money and generated an agency check to pay the insurance company. In addition, he would receive bonus checks from the agency for the premiums he collected."
How can you protect yourself against being a victim of insurance fraud? First, research your agent. Ask about their history and references. A great way to find a reputable insurance agent is to ask your friends to recommend a long time insurance agent they have worked with. Here are more resources:
Auto Insurance: Auto Insurance Fraud, Is Your Contract Legal?
Life Insurance: Don't Change Your Life Insurance Policy Until You Read This
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