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NAIC Members Help Consumers Protect Themselves Against Insurance Scams

Nobody likes to be scammed. But, unfortunately, fake insurance policies are on the rise in every line of insurance, and consumers are footing the bills in unpaid claims.

Just like counterfeit money, fake insurance may appear to be legitimate, but it is actually illegal and worthless. If you buy fake insurance, you’ll pay premiums, but your claims won’t be paid. The NAIC and state insurance departments across the country have recently launched a public awareness campaign to help consumers understand the problem and protect themselves against fake insurance scams.

With very few exceptions, insurance products cannot be sold by individual agents, brokers, or companies without the approval of that state’s insurance commissioner. Fake insurance is any insurance plan intended to defraud consumers or businesses.

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Last Updated 8/10/2004

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