The Commissioner of the Vermont Department of Banking, Insurance, Securities and Health Care Administration is warning Vermonters to watch out for fraudulent companies and individuals claiming to be health insurers or agents of health insurers who take the money of unwary consumers but do not pay claims.
“We have received complaints from people here in Vermont and uncovered twenty-five apparently related companies and individuals, operating here and in other states or overseas, who offer health insurance coverage but don’t step up when it’s time to pay a claim,” said Commissioner Stephen Kimbell. “We are taking steps to stop them,” he said, but warned consumers to be vigilant. “These policies are often sold through professional-looking websites claiming that a person just has to join a certain association to get insured,” said Kimbell. “I urge everyone to do research before buying insurance from an unknown company, especially one that advertises only on the internet or by unsolicited e-mails or faxes. If you’re in doubt, call us.”
The Vermont Department of Banking, Insurance, Securities and Health Care Administration (BISHCA) today issued an order requiring the cited companies and individuals to stop selling insurance in Vermont. A list of cited companies and individuals is included in this release and is available at the BISHCA website under “press releases” and “orders.”
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