LinkedIn emplea cookies para mejorar la funcionalidad y el rendimiento de nuestro sitio web, así como para ofrecer publicidad relevante. Si continúas navegando por ese sitio web, aceptas el uso de cookies. Consulta nuestras Condiciones de uso y nuestra Política de privacidad para más información.
LinkedIn emplea cookies para mejorar la funcionalidad y el rendimiento de nuestro sitio web, así como para ofrecer publicidad relevante. Si continúas navegando por ese sitio web, aceptas el uso de cookies. Consulta nuestra Política de privacidad y nuestras Condiciones de uso para más información.
DCBS is Oregon’s largest business regulatory and consumer protection agency. It includes Oregon OSHA, Building Codes, Workers’ Compensation, the Division of Financial Regulation, and the Oregon Health Insurance Marketplace The Division of Financial Regulation (DFR) protects consumers and regulates insurance, depository institutions, trust companies, securities, and consumer financial products and services The Oregon Health Insurance Marketplace (Marketplace) empowers Oregonians to improve their lives through local support, education, and access to affordable, high quality health coverage
The Division of Finance and Corporate Securitas and the Insurance Division have merged to form the Division of Financial Regulation. These two division’s had very similar regulatory processes. Though the merger officially started in January of 2016, and is still ongoing, we have seen significant examples of synergy. That’s not just a buzz word. We have actually seen quicker results and more efficient regularity actions than a result of this merger.
You may be asking what sparked this change: The regulatory reality is that Insurance Companies are starting to look more and more like financial institutes and are being regulated as such. Whether it’s a bank or a life insurance company, the regulatory processes are very similar, certainly the regulatory skill sets are extremely closely aligned. Through this merger we are able to create regulatory efficiencies which will increase the quality of our customer services while avoiding additional costs to our costumers. Remember too that our customers are vast: Carriers, Producers, Providers, and consumers of financial products and insurance products.
DFR has a much wider array of products which it regulates. Today I’m going to talk about the insurance products and the regulatory environment around them.
While our name has changed, our mission to protect consumers and encouraging a financially stable, innovative, and competitive insurance marketplace has not changed.
This is a info graphic that shows how busy we were in 2015.
nearly $2 million collected for consumer in 2015, and over 20 thousand Oregonians served.
Looking at the $740,000 for health complaints. This is the amount of money do to the consumer that had they not worked with us, they would not have received that level of coverage.
If only every scam was as obvious as this. The days of the obvious and sleazy scammers are not totally behind us. Their still out there, but more and more the scammers take on different faces and approaches. They can appear to be your friend, your neighbor, or your even appear to be a member of your family.
Rather than talk about the current scams, Today I’m going to talk about the anatomy of a scam. There are signs, or red flags that, if you are vigilant, you can spot them and avoid them.
It could be a knock on the door, a phone call, or a piece of mail you weren’t expecting. For example, you didn’t think you owed the IRS or a debt collection agency money, but they called claiming you could be in trouble if you don’t pay.
Think of ways people contact you uninvited: Facebook, text, email, phone calls and at your door. If you didn’t initiate the contact, you are not in control of the situation and could be at risk of being a victim of a scam.
A scam might warn that if you don’t respond immediately your prize winnings will be lost, or that a relative or friend is in trouble in a foreign country. If something prompts immediate action, be cautious.
Scammers try to get you in an emotional state of mind. Rationally you would recognize the offer is crazy, but if they can get you to think emotionally you are more likely to make irrational decisions and buy the magazine subscription or pay your late taxes to this stranger and hand over your credit card information and personal ID information.
Remain calm and end the conversation immediately. Don’t worry about being rude. It’s better than being ripped off.
Scammers often pose as banks, health care providers and government officials asking for identifying personal or financial information. Anytime someone asks you for this Information, be suspicious!
A coworker of mine recently had his debit card hacked. His bank put a hold on the card because they recognized the laws of physics would not allow him to be in McMinnville and in Mazatlán at the same time.
What was unique about this was the bank called and informed him that his card had been hacked. Other than asking him to verify his name, they did not ask him any other questions. Just informed him to go to the bank and a member services' team member would help him take the necessary next steps to get a new card and reverse the fraudulent transaction.
This was an actual emergency, but the legitimate caller did not ask for personal information. If an unsolicited caller or emailer or door to door sales person wants to know more about you than your name, end the conversation.
You may be asked to wire money or purchase pre-paid debit cards. This is the easiest way for scam artists to get their hands on your money, and it’s almost impossible to get it back once it has been sent. Don’t do it!
Checks create a paper trail that scammers don’t want. They will have to deposit it in their bank or cash it somewhere where they have some sort of a relationship. It can be tracked.
Mailing a prepaid debit card or wiring money is basically the same as mailing cash. Fully legal and legitimate businesses do not deal solely in cash.
By asking you to keep a transaction secret, scammers know you won’t have to respond to questions from family and friends who might see through the scam. Check with someone you trust before acting.
A common example of this is the call in the night or the email from a family member that is out of the country and needs your help, “I’m in Ireland and had a biking accident. I need $300 to pay for the ER visit. Don’t tell my mom and dad, I’m supposed to be in school. I came to you because you’re my cool aunt!”
Or an “investor” may tell you to keep the investment a secrete, because “we can only guarantee a 70% investment as long as we are in at the ground level. If everyone jumps on this huge opportunity it will down grade our return.” “Best if we just keep this between the two of us.”
Sirrens and bells should go off in your head if you hear something like this. Don’t “trust, but verify!” “hang up and verify.”
If it seems too good to be true, it probably is! Above all, use this simple mantra to help you detect and avoid scams. It’s always better to be cautious than to be a victim.
Remember, the “too good” offer is designed to get you emotional, excited. Don’t fall for it. Even if you are feeling lucky, don’t go for it. Even if a guy wants to sell you a race horse with the name Million Dollar Winner!, because it actually looks more like a “Stew-Ball”, than a “Sea-Biscuit”.
We have on our website, www.dfr.oregon.gov these helpful handouts that dispel the myths that surround insurance products. Pick one of these up or download it from our website and don’t fall victim to insurance myths like, I have “Full Coverage on my car” or “All preventive medical care is free”. These sort of myths involve real dollars and real anxiety. These guides can really help you avoid confusion and frustration.
Kevin Jeffries, Consumer Liaison, Oregon Department of Consumer and Business Services, How to Spot a scam
Presenter: Kevin Jeffries,
How to Spot a Scam
ID protection - Financial Fraud &
Division of Financial Regulation
Department of Consumer and Business Services
Building Codes Division
Division of Financial Regulation
Workers’ Compensation Board
Workers’ Compensation Division
Oregon Health Insurance Marketplace
The Department of
Consumer and Business
Services (DCBS) includes:
Banks and credit unions
Debt management services
Financial & investment advisors
Payday and title lenders
Protecting Oregonians’ access to
fair products and services through education,
regulation, and consumer assistance.
Product and Rate
DFRDivision of Financial
Assist in resolving complaints
Investigate violations of insurance and financial law
Education and outreach
Division of Financial Regulation:
• Helped 20,247 Oregonians with their insurance
• Resolved 3,653 complaints
• Recovered $1,990,701 for Oregonians