CALIFORNIA Insurance Commissioner John Garamendi last month ordered a Tennessee-based travel insurance company to stop doing business in the state, saying the company was defrauding the consumers it was supposed to protect.
The insurance commissioner said Trip Assured, which is based in Crossville, Tenn., was selling insurance illegally in California. Trip Assured has disputed that assertion, saying what it sold was not insurance.
"No matter what Trip Assured wants to call it, the product they are offering meets the definition of insurance," Garamendi said in a statement issued Oct. 4. "This company's whole reason for being appears to be to defraud and intimidate senior citizens.
The number of complaints we have at any given time is infinitesimal compared to the number of policies we have in force," McGinnity said.
Companies are given the opportunity to address and correct complaints and, according to the Better Business Bureau, Trip Assured had done so to the bureau's satisfaction in all 76 cases.
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Assurance of home owners Insurance
home owners Insurance
Better Business Bureau
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