Travel Insurance Fraud Don t Let It Happen To You
Below is a MRR and PLR article in category Finance -> subcategory Wealth Building.
Travel Insurance Fraud: Protect Yourself
Summary
The California Insurance Commissioner has issued a cease-and-desist order to Trip Assured, a Tennessee-based company, to halt its operations in the state. Allegations of fraudulent activities have surfaced, although Trip Assured claims they weren't selling travel insurance. Yet, authorities believe their offerings fit the insurance definition. Trip Assured mainly targets senior citizens.
Understanding the Issue
California's actions followed similar moves by Michigan, Texas, Florida, and North Carolina. Investigations revealed that Trip Assured denied 30 claims in California alone, and 76 complaints have been registered with the Better Business Bureau (BBB) over the past three years. Although Trip Assured addressed these complaints, many claimants were dissatisfied. This is concerning, especially as travel insurance is a growing industry. Due to these issues, the BBB in Tennessee revoked Trip Assured's membership, reflecting poorly on a company based there.
A Personal Case Study
Consider the experience of Sylvia Resnick, a senior who planned a dream European trip, including a cruise. She purchased Trip Assured through her travel agency. Unfortunately, she suffered a severe back injury during her vacation and had to cancel the cruise. Upon returning home, she submitted a doctor's note as proof, expecting reimbursement according to her policy. However, Trip Assured denied her claim, leaving her shocked and without compensation.
Key Questions
1. Why would an insurance company aimed at satisfying customers deny a legitimate claim?
2. How did the BBB find such cases to have satisfactory outcomes?
How to Protect Yourself
When investing in travel insurance, exercise caution. For those who have already purchased policies from Trip Assured, contact First National Bank of Tennessee at 931-707-3561, particularly if you're a MasterCard customer. Additional support may be available for others, so calling is recommended. Their hotline operates from 6 a.m. to 2:30 p.m. Pacific Time.
To file a complaint, reach out to the California Department of Insurance at 800-927-4357 or submit an online complaint at [insurance.ca.gov](http://www.insurance.ca.gov).
Stay informed and cautious to ensure your travel investments are secure.
You can find the original non-AI version of this article here: Travel Insurance Fraud Don t Let It Happen To You.
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