subject: Insurance Agent Chicago - Legal Certificates Of Insurance [print this page] Finding the right insurance agent Chicago, for many, is a simple task. Others might spend hours searching through the more than 1,800 companies that are available to find someone who can manipulate the system for them. Unfortunately, many insurance agents are feeling the pressure to help their insured parties get what they need, including modifying insurance certificates or altering them to state information that simply isn't true. To understand this better, you must first understand the purpose and intent of an insurance certificate.
An insurance certificate is simply a document that states what is insured and how much coverage the policy holder has. In the past, this was enough and was the only way that these certificates were used. When consumers buy a home, get a loan, file a claim, or perform other tasks that require proof of insurance, they need this certificate in many cases. Today, insurance certificates are often being used illegally or illegitimately because they are stating information that either isn't true or are making changes to an insurance policy that cannot be made without an endorsement. To many, this might seem like a simple act of 'pulling the wool over the eyes' that is completely harmless. However, it is not harmless and is technically a form of insurance fraud. Of course, making changes to insurance certificates is done by all types of agents simply for the fear of losing valuable business customers. In Illinois, mortgage rescue fraud is the most common type of fraud that is trying to be abolished currently. However, the ease of performing illegitimate or improper changes on certificates of insurance causes many to avoid being caught simply because no one is looking for this type of crime.
To some, 'crime' might seem like a harsh word when dealing with simple certificate modifications that many think doesn't hurt anyone. However, the insurance industry is losing money, insured parties are not going to get the compensation that they need by performing these illegal changes, and agents are putting their license on the line for the sake of saving an account. All this goes on while most look the other way, assuming that it's just something that has to be done. With over 16,000 insurance agents in the state of Illinois and thousands of those in the greater Chicago area, it is easy for companies to get what they want by threatening to take their business elsewhere. Until standardization is created for this area of insurance, people will continue to work the system, regardless of whether they are an insurance agent Chicago or just another insured customer.
by: Rodney Nars
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