Prime Travel Protection forced to cease operations

www.ptprotection.us

A Cease and Desist order has been issued by the Colorado Division of Insurance against Prime Travel Protection – also known as Vacation Protection Services – and Traveler Protection Services, Universal Assurance, Jerry Watson, and Christine Watson, for unlawful insurance transactions and sales in the State of Colorado.

“There are many protections in place for consumers when purchasing insurance from a licensed company or through a licensed agent,” said Colorado’s Commissioner of Insurance, Marcy Morrison. “Travel insurance companies must prove they have adequate financial reserves to cover claims, for example.”

Morrison added: “Licensed companies must answer to the Division of Insurance if we receive documented complaints about their practices. But when a consumer chooses to go with the too-good-to-be-true deal, he may find that he has paid for absolutely zero protection. If the company isn’t licensed by the state, many of the legal protections in place don’t apply.”

Consumers in Colorado and other states as well, had purchased “trip protection” insurance from “Prime Travel Protection Services,” which was subsequently investigated for selling non-licensed insurance products. Neither the company nor its principals were licensed to market or sell insurance.

Thanks to www.travelmole.com for the above quotes, for more information on this article please visit their website.

www.ptprotection.us