Oklahoma Cracks Down on Unauthorized Home Warranty Sales (FOX23)

Oklahoma Cracks Down on Unauthorized Home Warranty Sales

Tuesday, April 9th, 2024 Fraud Insurance Industry Legislation & Regulation Property

The Oklahoma Insurance Department (OID) has taken decisive action against First Premier Home Warranty Corp. by issuing a cease-and-desist order, effectively halting the company’s sales of home warranty contracts in Oklahoma. This move comes after the OID received multiple complaints from consumers about the sale of unlicensed home warranty plans within the state. The department’s swift response underscores its commitment to protecting Oklahoma residents from potentially fraudulent or unauthorized insurance activities.

Insurance Commissioner Glen Mulready stressed the importance of consumer protection in the announcement, noting that Oklahomans depend on home warranty companies for critical coverage. The licensing requirements established by the OID are meant to ensure that consumers are dealing with reputable and compliant companies. The crackdown on First Premier Home Warranty Corp. serves as a reminder of the regulatory body’s dedication to enforcing these standards and maintaining the integrity of the home warranty market.

The OID has advised consumers to verify the licensing status of any company from which they consider purchasing a policy. This precautionary measure is part of the department’s broader effort to educate the public on the risks associated with unlicensed insurance providers. Oklahoma residents who suspect they may have been targeted by fraudulent activities are encouraged to report their concerns to the OID. This incident highlights the ongoing challenges faced by regulatory authorities in safeguarding consumers against unlicensed and unethical insurance practices.

Claims Pages Staff Writers are dedicated professionals covering a broad spectrum of insurance topics, including auto, catastrophe, education & training, fraud, legislation, liability, life & health, litigation, property, risk management, technology, underwriting, and workers' compensation. With over 25 years of distribution, our publication brings you accurate and timely information to keep you informed and ahead in the claims industry.

External References & Further Reading

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