St. Louis Insurance Agency Under Investigation

1 decade 1 year 10 months ago Wednesday, November 30 2005 Nov 30, 2005 Wednesday, November 30, 2005 12:43:25 PM CST November 30, 2005 in News

The charge may have you rethink who you do business with. Missouri law requires that any agency passing customer premiums on to the insurance companies do it within 30 days. But the payments of at least five Walker insurance agency customers in St. Louis didn't make it to their insurance company in time.

That triggered an investigation by the Department of Insurance.

"The insurance cards in this case were bogus insurance cards. They were simply made up by the insurance producer himself. They were not actual cards issued by the insurance company," MO Department Of Insurance spokesman Matt Barton said.

The Missouri Department of Insurance oversees the licensing of more than 90,000 insurance agents. The department website contains information on the number of complaints filed against an insurer.

"With a broker you are relying on someone else to check several insurance companies and come back with the best price for you and the best deal for you," insurance agent Jon Zahner said, "They are not necessarily taking everything into account that you want. So maybe by doing your own research, you're going to get the best price and the best policy for you."

Now the Administrative Hearing Commission must decide if the department has sufficient grounds to discipline the agency's license. The discipline hearing for Walker insurance agency is scheduled for February 7.

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