Search CompleteMarkets

E&O In Commercial Auto
E&O IN COMMERCIAL AUTO by Curtis Pearsall In virtually ever...,000. Conclusion Writing commercial Auto Coverage is not as easy as you may ...

...omeowners X-dates   B. 200 Automobile X-dates   II. Commercial...ks, telephone approach, replies from parking lot paper-hanging). If time left,...

...of taking my car, I talked with an auto-dealer friend who allowed me to borrow...my carrier paid the deductible on the auto dealer's coverage, and the rest of the claim has been submitted to the auto dealer's insurer. Obviously, a cli...

...ffective weapon against fraudulent auto-theft claims. But in one case, an ins...d had been the reported victim of two auto accidents and a residential burglar...

... of conflicting laws); franchises; auto body and auto-repair shops; hair salons; physician a...ur types of employee are more or less automatically accepted as statutory empl...

... of conflicting laws); franchises; auto body and auto-repair shops; hair salons; physician a...ur types of employee are more or less automatically accepted as statutory empl...

... Management Human Resources Selling Legal and E&O Technology Life/Financial Services Glossaries Management Resources & Links Categories Popular Recent All Back How Staged Accidents Work 4/30/2013 10:45:23 PM by CompleteMarkets Editor , Thomas Sarinana This content has not been rated yet. FRAUDBUSTERS: HOW STAGED ACCIDENTS WORK (AN UNDERCOVER PERSPECTIVE) by Thomas Sarinana Capping' the unlawful solicitation and referral of staged auto accident cases to medical providers and attorneys for a fee-is a violation of Business and Professions Code 6152 and the California Insurance Code. As an investigator, I've worked undercover and have personally been paid capping or front monies by people working on behalf of doctors' and attorneys' offices. In every case, I was paid for my solicited participation in a staged auto accident or for referring other participants ... the cappers and assistants designate who the drivers and occupants will be for each car. A popular type of paper accident is the alleged hit and run. The scheme is accomplished by obtaining or possessing an insured vehicle with existing damage or with damage inflicted on it. The vehicle is then filled with the players (driver and passengers), who are briefed on the details of the accident. They then park the insured vehicle on a public street and summon the police, or drive to a police station to report the hit and run. Having authenticated their phony accident with a police report, the suspects then pursue their fraudulent injury claims against the driver's insurance company. After the players conspire to report the nonexistent or staged collision to the insurance companies, the stager/capper then sells the accident case ...

... Lakewood, CA, and reported his Rolls-Royce stolen. He told the police he had driven it to the restaurant for lunch, and when he returned, his car was gone. The police dutifully took down the report and began looking for the phantom Rolls-Royce. The insured made a report to the Classic Car Insurance Co. and immediately, in response to its request, submitted a sworn declaration of auto total theft, making his claim for $100,000. Classic Car Insurance Co., as required by California law, maintains a special investigation unit (SIU) . When the report came in, a computer search was performed of Classic Car's other claims payments. A three-year-old theft loss of a classic Mercedes was discovered to have been reported by a person with the same last name as ... insured. The old file was taken out of archives and it was determined that the vehicle was owned by the insured's mother, but was being driven by him when it was stolen from a restaurant parking lot. Classic Car had paid the insured's mother $75,000 for the loss of her Mercedes. The coincidence was too great to ignore. The investigator began to do the work he was trained to do. He first checked the database maintained by the National Insurance Crime Bureau and learned: The insured had been the reported victim of two auto accidents and a residential burglary-none of which were reported on the application for insurance. The insured had been convicted, at age 19, of four counts of check forgery, ultimately causing a bank to lose hundreds of thousands of dollars. He had ...

... your specialty letters and direct mail letters, as well as following up on your single-line clients. If you're buying a system that doesn't have this word processing capability, it is already obsolete. With our word processor, we do direct mail, mass marketing with personal letters-sending a similar or repetitive letter to the same accounts every so often. You can keep track of business lists, homeowners lists, auto owners, boxholders, and so on with a computer. BE YOURSELF When advertising your agency, one of the most difficult rules to follow is to be yourself. Don't try to be something different. You must determine within your agency who and what you are and what your staff is. For example, we happen to live in a mountain area, so we bill ourselves as mountain people ... did something about it, or that you would have called if it was important. We have found that advertising price in letters is beneficial. Some folks disagree-agents feel stating an insurance premium is not professional. But when you are selling things that people are not familiar with, such as Life insurance, Umbrella policies, and Snowmobile coverage, prospects want to know if the premium is in their ball park. They don't care if it's the lowest price around-the affordability is what matters. You can give the world's greatest selling pitch on low-cost, high-value Term Life insurance, but if your prospects think they can't afford it, nothing is going to happen. NEWSLETTERS A newsletter is a good vehicle for staying in touch with your client. And many types are available (such as those offered by IMMS ...

... ? State and federal administrations are scrounging for tax revenues, especially since certain sophisticated tax shelters were done away with. So it makes sense that independent contractors are now prime game for bounty hunters. Businesses with the most to gain from using independents are the most likely targets for auditing. These would include travel agencies; construction companies (which have their own maze of conflicting laws); franchises; auto body and auto-repair shops; hair salons; physician and lawyer firms; businesses that employ janitors, truckers, and consultants; and even some candlestick makers. The IRS is always about two years behind in audits, and the large state agencies are usually not much quicker. A business could suffer over long-forgotten episodes. Have your tax advisors, an outside CPA, or the IRS itself examine your ... ? by Marvin Sahl, CLU The use of independent contractors can give businesses greater flexibility and lower labor costs, reduce taxes, and sometimes lower insurance premiums. Cost savings from fringe benefits, payroll, administrative expenses, and reporting can be enormous. Employees cost as much as one-third more than independent contractors- maybe even more when you factor in the costs of office space, break times, and parking. The IRS and most states are auditing for improper classifications of independent contractor. Unfortunately, a business that finds the money, strength, and time to fight an audit often discovers that IRS and state policies are ambiguous at best and meaningless at worst. The rules are certain to have precedents, interpretations, and differing criteria. Add to this the possibility that the auditor might not read well or ...