Crawford to Step Up Actions on Insurance Problems
State Insurance Commissioner John P. Crawford will be taking a closer look at reported problems with insurance and intends to increase actions taken to solve them. "I told people that I was going to clean up the insurance business; the public and the insurance industry are letting me know about problems. We are taking action," Crawford said Tuesday in a press release.
"We are taking a closer look at all applications that come into our office. Specifically, we have discovered that a number of individuals applying for agent's license failed to report that they had been convicted of a felony or misdemeanor. I have instituted a program of closer scrutiny that is catching their misrepresentations that might have been overlooked before."
The Oklahoma State Insurance Department also is reviewing more closely the agent appointment process. An insurance agent must receive an appointment to represent a particular company. "Whenever a company withdraws an agent's appointment, we are reviewing the reasons why to determine if there is a possibility of violation of the insurance laws. If necessary we start an investigation to determine if there has been a violation," said Crawford.
Crawford said he has proposed legislation which would strengthen antifraud measures. "We would be able to punish violators, not just take away their ability to do business," he said. United Bank Services Buys Purchase Power
United Bank Services of Norman has acquired Purchase Power, an Austin-based benefits provider. United Bank Services is marketing the Purchase Power group of services as an acquisition and retention tool to financial institutions, associations, employers, fund-raisers and marketing companies.
United Bank Services provides enhancement services to over 1,800 client institutions and their 9 million members through the Northern Hemisphere, the company said. Purchase Power services provide savings on merchandise, travel, vehicles, legal services and real estate, plus optical and dental discounts and supermarket coupons. Dickey Named President, CEO of American Fidelity Insurance
Stan Dickey has been promoted to president and chief executive officer of the American Fidelity Insurance Co., a subsidiary of The American Fidelity Group. Dickey has been with American Fidelity for 24 years. …