|Targeted News Service|
The recent arrest of
"Basler violated his fiduciary responsibility by allegedly ripping off consumers for his personal financial,"said Insurance Commissioner
The investigation revealed Basler, a licensed insurance agent since
According to investigators, Basler would send renewal quotes to his clients and they would issue a check to Basler's agency to renew their policies. One client paid Basler for five years until the department's investigation revealed the homeowner had been without insurance since 2009. A review of Basler's business bank records further revealed several other clients who had been paying Basler their premiums yet lacked valid policies.
When these same clients requested proof of insurance, Basler provided them with a falsified certificate of insurance with the name of the insurance company, the coverage period and the amount of coverage. Upon verification, the insurance companies confirmed that the policy numbers on the certificate were not legitimate policies.
It is essential that homeowners ensure they receive an actual policy from an insurance company and read the policy carefully to verify the coverage they purchased. A certificate of insurance is not sufficient proof that a policy is in force.
Consumer tips to avoid premium fraud:
* Always check the license status of the agent/broker before you purchase insurance by visiting our Website at www.insurance.ca.gov.
* Confirm the validity of your policy with the insurance company, not the broker or agent.
* Be aware that claims are paid from the insurance company and not the agent.
* Pay your insurance premium by check. Make checks payable to the insurance company not the agent or the agency. Obtain a receipt.
* Never pay your insurance premium in cash. Think twice if the agent/broker insists on cash payment.
* Obtain copies of the documents relating to your insurance transaction.
* If you believe you are the victim of a dishonest insurance agent, call the
Bail for Basler is set at
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