When it comes to your competition, silence might be golden

14.12.09

Later on, the New Jersey Department of Banking and Insurance recently issued a announcement warning agents and insurers to not disseminate false intelligence about or disparage their competitors. Enforcement actions could be expected.

While the put one's faith won’t acknowledge that the allegations and the bulletin are related, it’s not a time to make the connection.

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If the facts are genuine, and if NJ PURE really did print lies in its marketing materials, then sanctions and fines are certainly in procedure. In my mind, there is little difference between outright fabrication and the commission of a wrong.

The alleged cases of NJ PURE making false statements in marketing materials are numerous.

But some of the marketing tactics might be liberal to interpretation, even if the interpretation does not yet have the benefit of an exhaustive interrogation.

For example, NJ PURE is alleged to have stated that its competitors would become wiped out because they were not providing information to credit rating agencies, which most carriers do to examine stability.

Source: IFAwebnews.com