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These were basic training videos/courses to teach them how to be brokers! They hired random salespeople, and cut corners (=cheated) on the very minimal (52 hour
by phonon 10y ago
These were basic training videos/courses to teach them how to be brokers!
They hired random salespeople, and cut corners (=cheated) on the very minimal (52 hours) state required training to allow them to be licensed insurance brokers.
The result was their brokers ended up being very ignorant of insurance products and practice.
Ethics is a small portion of the requirements. It's mostly basic stuff on what insurance is.
- michaelbuckbee 10y agoIs this 52 hours / state? or does it cross license between states?
- st3v3r 10y agoIt is a requirement of the State of California to be able to sell insurance in that state. It is independent of any federal regulation, or any other state's regulations.
- phonon 10y agoYes. But you can get licensed in every state in the US, but only do training in (for) one state. (Usually.)
- phonon 10y agoMost other states will waive the pre-licensing requirements if you are already an agent in one state. Sometimes it depends on your state. They still want their ~$100 a year though. Zenefits fell down there as well--they had many gaps in their producer licensing. They've now open sourced a compliance app to track this. https://www.zenefits.com/blog/zenefits-now-leader-licensing-compliance/ https://www.zenefits.com/blog/zenefits-now-leader-licensing-... (Most insurance agencies get by with a spreadsheet for this...) They also list all their licenses here https://www.zenefits.com/licenses/ https://www.zenefits.com/licenses/