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  • OFIR Warns Detroit Drivers of fake Auto Insurance

    1 posts, 1 voices, 1367 views, started May 23, 2011

    Posted on Monday, May 23, 2011 by Denise Richardson




    • Diamond
      Offline
      Ambassador

      OFIR Warns Detroit Drivers of Fake Auto Insurance

      Ethos Insurance posing as a Michigan-licensed insurance agency  

      FOR IMMEDIATE RELEASE
      May 23, 2011
      Contact: Jason Moon 517-335-1700

      LANSING – The Office of Financial and Insurance Regulation (OFIR) today warned Detroit-area drivers that they may have unknowingly purchased fraudulent automobile insurance certificates from an entity claiming to be a Michigan-licensed insurance agency named Ethos Insurance (Ethos).

      An OFIR investigation found that Ethos and Don Diamond, a licensed insurance agent, were selling bogus policies purporting to have coverage through legitimate insurance companies. OFIR ordered Diamond, Ethos Insurance-Michigan, Ethos Insurance Group and Ethos Mutual Insurance Company to cease and desist from conducting unlicensed and fraudulent insurance activity.  

      "Detroit drivers who purchased auto policies from Ethos or Don Diamond need to buy legitimate coverage immediately," OFIR Commissioner Kevin Clinton said. "Right now they're driving without insurance."

      Drivers are urged to contact OFIR toll-free at 877-999-6442 if they believe they may have bought a fraudulent policy from Ethos or Diamond. OFIR can assist consumers in determining whether they have proper auto coverage.

      OFIR determined that Diamond, through Ethos, enticed Detroit drivers into buying low-cost, bogus auto policies at numerous locations around the city. Concerned Detroit consumers who purchased insurance through Ethos notified OFIR after Ethos failed to produce documents related to their auto policy.

      All insurance producers (agents) and agencies in Michigan are required to have a license on display in their offices. Consumers are advised prior to purchasing auto insurance to ask the agency to show a copy of its license. Consumers can check to see if an insurance agency and agent are licensed to do business in Michigan by visiting: [Link Removed]

      OFIR has handed the results of its investigation over to the proper law enforcement agencies.

      A copy of OFIR's cease and desist order can be found at: [Link Removed]

      From Valerie Glosson

       LARA - Insurancewww.michigan.gov
      MI Department of Licensing and Regulatory Affairs - Information about regulated Insurance entities.


      Neicy, Your links have been removed, please consider upgrading to premium membership.






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