Des Moines – The Iowa Insurance Division is alerting investors to be on guard against an anticipated surge of fraudulent investment schemes amid the ongoing COVID-19 pandemic.
“In these extraordinary times the health and welfare of our people is our first concern, and that includes financial health,” said Iowa Insurance Commissioner Doug Ommen. “Scammers will begin perpetrating schemes...
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Friday, March 20, 2020
Des Moines – The Iowa Insurance Division is reminding Iowans that staff and volunteers with the Iowa Insurance Division, the Senior Health Insurance Information Program (SHIIP) and Senior Medicare Patrol (SMP) are available to assist Iowans. Public access to the Iowa Insurance Division office may be limited effective Friday, March 20, 2020 and will remain in place until further notice....
Tuesday, March 3, 2020
Des Moines — Due to ongoing developments related to the current coronavirus (COVID-19) impact on financial markets, the Iowa Insurance Division is reminding Iowa investors to beware of con artists seeking to capitalize on fear and uncertainty.
“We know con artists are opportunistic and use current events to cloak their schemes with an air of immediacy and legitimacy. Never make an investment...
Thursday, February 27, 2020
Des Moines, Iowa – The Iowa Insurance Division today filed proposed regulations to require annuity agents and securities agents to act in the best interest of their customers. These standards ensure consumer’s interests are put first.
This follows efforts by the National Association of Insurance Commissioners (NAIC) to develop a model Suitability in Annuity Transactions Model...
Tuesday, February 25, 2020
Des Moines, Iowa – Iowa Insurance Commissioner Doug Ommen today issued a bulletin providing guidance to Iowa consumers and insurers regarding the CMS decision to allow transitional policies to be extended through calendar year 2021.
“I appreciate CMS taking the action to extend transitional policies. Without this action, roughly 1.1 million individuals nationally and 72,000...
Thursday, February 20, 2020
Des Moines – The Iowa Insurance Division yesterday ordered Chad A. Ware of Moline, Illinois, to cease and desist doing insurance business in Iowa for six months as his nonresident insurance producer license has been suspended. Ware is also ordered to pay penalties totaling $6,000 in civil penalties and $1,200 in costs of the investigation and prosecution.
In various instances,...
Tuesday, February 18, 2020
Des Moines - Almedina Suljic, age 25, of Johnston recently pled guilty to one count of Fraudulent Practices (Aggravated Misdemeanor) and received a deferred judgment following an investigation by the Iowa Insurance Division’s Fraud Bureau.
“Insurance fraud is not a victimless crime. We all pay for insurance fraud in the form of higher insurance costs,” Iowa Insurance Commissioner Doug...
Thursday, February 13, 2020
Des Moines – John A. McAfee of Hannibal, Missouri, and McAfee & Associates were recently ordered by the Iowa Insurance Division to cease and desist from creating or purchasing and sending certain mailers or envelopes to Iowa residents or Iowa locations as stated in the enforcement order. McAfee and McAfee & Associates are now subject to a one year monitoring period and are also...
Wednesday, February 12, 2020
For many Iowans on Medicare and their caretakers, Medicare plans can be confusing. Choosing the wrong plan can lead to your provider no longer being in-network, your prescriptions costing hundreds of dollars more or travel plans ruined due to gaps in your medical coverage.
“Each year it seems there are changes to Medicare, making complicated products and processes even more complex for the...
Tuesday, February 11, 2020
Des Moines, Iowa – Christopher Lowell Childers, age 54, an insurance agent in Windsor Heights, Iowa, has been charged with one count of Fraudulent Sales Practices (Class D Felony), two counts of Forgery (Class D Felonies), and one count of Fraudulent Practices (Class C Felony) following an investigation by the Iowa Insurance Division’s Fraud Bureau.
The charges against Childers stem from an...