Insurance: Life Settlement

Investigation into allegations that insurer are knowingly and intentionally making gross or fraudulent misrepresentations to dispossess policy owners of their rights of entering into a life settlement to access the Fair Market Value of the death benefit of their policy. Insurers have been accused of blackmailing advisors with threats of cancelling their agent contract and destroying their career by making false complaints to the regulators; all of this in order to force the policy owners involved to cancel their policy for its cash value which would provide an unfair and very profitable benefit to the insurers which would not have to pay the death benefit.

High

(1) Terminally ill policy owners that want to have an advance on their death benefit
(2) Advisors who have been blackmailed into acting against the best interest of their clients
(3) Any other parties involved into life settlements

Open. Register your complaint into our National Database

To be annouced

Mortgage: Mortgage Commitments

Accusations revealed that lenders are misrepresenting mortage commitments offered to borrowers when they have fully qualified for a mortgage. Complaints revealed that lenders often cancelled a mortgage committment a few days prior closing without any valid reasons. Complaints so far have not revealed losses or harm to the consumer as the consumer were able to get another mortgage with another lender. This however did result into a very bad experience for the borrower. The purpose of this investigation is to get the facts needed to convince the mortgage industry to introduce voluntary changes to resolve this problem

Low

(1) Any borrowers, brokers or real estate agents having witnessed this problem

Open. Register your complaint into our National Database

To be named

Group Insurance: Cuggia - Group insurance to marginal risks such as handicap employees

Mr. Cuggia was an innovative advisor who designed a group insurance product (All for one) for small marginalized group of employees who did not have access to group insurance because of cost. It was demonstrated that Mr. Cuggia was able to reduce the cost of this group insurance for this risk by more than 25%. After many complaints by insurers, the AMF convicted Mr. Cuggia of fraud. FSCA is concerned this was done without a trial and that the AMF bribed several employers having bought All For one, paying them thousands of dollars, into making a complaint against Mr. Cuggia FSCA is concerned that the career of Mr. Cuggia because his innovations was a threat to the profit status quo of the group insurance industry

High

(1) Lawsuit by Mr. Cuggia against AMF

Open. Register your complaint into our National Database

To be annouced

Insurance: Travel Insurance

Accusations revealed that insurers are using fraudulent claim practices to deny claims

Extremely High

(1) Any consumer having been denied a claim under travel insurance

Open. Register your complaint into our National Database

To be named