MARYLAND INSURANCE ADMINISTRATION
JUNE 24, 2004
It should also be noted, that just as manager compensation is tied to the effective handling of complaints, there should be imposed with the COMS an effective method of bringing the
“action plan” established by the Vice President and district manager identified through this system as having problem areas, or that need retrained in the areas that are identified as deficient.
to fruition. Agents refocusing should be
The examiners were provided samples of Corrective Action Logs. The comments are
applicable to each case: (1) Agency A66
Agent 5355 (Last 4 of SS#)
“Talked to agent regarding case no.073369130AB and 073388758AB. We discussed replacement definitions, forms, disclosures, and procedures. Understands now that an exchange
is considered replacement and replacement checklist and all other forms must be submitted.”
The examiners note that the agent above was licensed with the Company July 1, 1985. Replacement should have been discussed periodically prior to this incident.
(2) Agency A66
Agent 7200 (Last 4 of SS#)
“Discussed case 073563527 with agent.
Explained why this case is considered a
He took replacement tutorial on laptop.
He is aware that he should have written
yes to replacement question and submit proper documentation and forms.”
The examiners note that the agent above was licensed with the Company September 22, 1987. Replacement should have been discussed periodically prior to this incident.
(3) Agency A66
Agent 5103 (Last 4 of SS#)
“Failure to consider partial withdrawal as replacement.
Went over definition of
replacement, including partial withdrawals being included as replacement.”
The examiners note that the agent above was licensed with the Company March 30, 1998. Initial training should have provided replacement definitions.
It is not a part of the Corrective Action Log as to what was done for the client, or if any thing should have been done.
Record keeping by the Agency, the Company, the Corrective Action Log and COMS shifts from identifying the agent by Agency Number, i.e. the identification number used by the Company such as 825-3 or 814-4 to the social security number of the agent. While the name of the agent is provided, this inconsistency makes it more difficult to track or trend an agent.
MET LIFE REPORT NO. 786-01