Fraud
It has been brought to our attention that there have been potential insurance fraud scams occurring in which various individuals falsely claim to represent our company and have authority to sell various insurance products including commercial lines products, general liability coverage for contractors, and workers’ compensation insurance on our behalf. It appears that these individuals are targeting small business owners such as painting, repair contractors, cleaning services, real estate and others; especially those who have recently started a business and registered for a license with the city they are located in. They offer the potential victim a very large contract for new business and guaranty future work, as long as the business owner purchases “special insurance’ that only they can provide. They guarantee a large job that will pay a lot of money and ask the business owner to contact them if they are interested. They use a link to our company’s website to demonstrate they are a legitimate business. They issue a quote for an annual policy for a premium of approximately $3,200.00 and require a deposit at least half of the money into a bank account, by either cash or a check – DO NOT DEPOSIT ANY FUNDS INTO SAID ACCOUNT. Contact your bank to determine whether it is a commercial account or a personal account, as the perpetrators use a personal account. Please also contact your local police department to file a report.
These individuals are not authorized representatives of Nautilus Insurance Group and they are not licensed insurance agents of our company in any state where we are aware that they are operating and are preying on the public. You can easily verify whether anyone has an insurance agent’s license by contacting your state insurance department by phone or online.
Below is a link to a website relative to various fraud scams, please review this site to avoid insurance scams:
If you have any questions please feel free to contact our Regulatory Department at 480-509-6627.
Lastly, the following are tips to avoid insurance fraud and scams:
Tips To Prevent Insurance Fraud:
- Perform due diligence when purchasing insurance.
- Read your policy immediately to verify that it contains the coverage you discussed with your producer. If not, contact your agent immediately.
- Never pay for your premium in cash. Always pay insurance premiums by check or money order. Make sure that you have a receipt that shows that you actually paid the premium.
- Fill out your insurance application carefully. Never sign blank forms or blank applications. Incorrect, incomplete, or false information on your application can jeopardize your insurance coverage. It is a crime to supply false information on an insurance application or claim.
- Expect a copy of your policy from your producer in a reasonable amount of time. If you do not receive your policy, contact your agent.
- Keep copies of all insurance records, including copies of all premium payments. Store extra copies in a safe-deposit box, in a waterproof and fireproof container, or with a friend or attorney.