News Currents

ID theft warning in Okla.

Oklahoma Attorney General Drew Edmondson issued a consumer alert to customers of First State Bank in Ketchum warning them about a scam being perpetrated in their area.

According to the AG’s office, the bank had gotten complaints from customers who said they had received a call from someone purporting to be from the bank. The caller asks the bank customers to verify their account information.

First State Bank, which does not request account information over the phone, notified its customers and asked those that have received a similar call to contact the bank. First State Bank’s phone number is (918) 782-3252.

Edmonson noted that it is “never a good idea to give out financial information over the phone unless you initiated the phone call to someone you know and are comfortable doing business with.”

Ark.: Producers need flood insurance training

The Arkansas Insurance Department issued a bulletin reminding insurance producers of the training and education requirements for those selling flood insurance policies from the National Federal Insurance Program (NFIP).

Section 207 of the Flood Insurance Reform Act of 2004 requires all producers selling flood insurance policies under the NFIP to be properly trained and educated about the NFIP to ensure producers may best serve their clients.

The Federal Emergency Management Agency, in cooperation with the insurance industry, state insurance regulators, and other interested parties, has established minimum training and education requirements for all insurance producers who sell flood insurance policies. An insurance producer who sells flood insurance may satisfy the minimum training and education requirements by completing a course related to the NFIP which has been approved for three hours of continuing education credit by the Arkansas Insurance Department.

The failure to comply with this continuing education requirement may jeopardize the producer’s authority to write insurance through NFIP.

All Arkansas licensed resident insurance producers who sell federal flood insurance policies must comply with the minimum training requirements of section 207 of the Flood Insurance Reform Act of 2004 and basic flood education as outlined at 70 Fed. Reg. 52,117 (Sept. 1, 2005) or such later requirements as are published by FEMA.

Licensed insurers also must demonstrate to the insurance commissioner, upon request, that their licensed and appointed producers who sell federal flood insurance policies have complied with the minimum federal flood insurance training requirements.

Topics Flood Training Development Arkansas