Vehicle Warranty Company Shut Down for Allegedly Operating as Unlicensed ...
21.07.10
July 21, 2010
A cease-and-desist order was filed against two people and their
company for supposedly selling insurance that was being made to
look like “auto additive warranties” without a license.
According to the Department of Insurance Prestige Administration,
Inc. acted as a unlicensed insurance company. The co-owners of Prestige
Administration, Inc., dba Autolife Rx, are being fined $5,000 for
each day that they were operating or five times the revenue received
from California consumers, whichever is greater.
It is alleged that they sold the insurance policies through car
dealerships who sold the packages to customers buying cars. In June
of 2009 the Department of Insurance denied approval for Prestige
Administration, Inc. to sell a radiator additive warranty. Since
the additive warrant was not approved it was automatically deemed
to be an insurance policy and therefore can only be sold my licensed
insurance companies with millions in net assets that meet specific
accounting and experience requirements, which the company did not
meet.
Ryno Car Insurance Ryno Prestige Car Insurance | InfoLink IT Web ...
Insurance Companies and Insurance Underwriters are they for real?
Read about Ryno Car Insurance and what they just did to me.
I just had to write about this, what a joke prestige car insurance has become. I just received a letter from my insurance brokers Sirius Risk Services on the Gold Coast stating that my car insurance policy on my HSV GTS has been declined, I was dumb founded as to why.
Then when I researched it more it was all due to the fact that I had a claim earlier this year, a single car accident at Paradise Point on the Gold Coast. This is the same company that offers on their website an emergency phone number in case of accidents this is the same company that does not answer their clients phone calls after hours on weekends in case of accidents. Hello what the hell are they offering as a level of service?
I fully understand the issues and delays associated with a single motor vehicle car accident and having insurance investigations carried out. However to take over 4 weeks to approve my claim and to be without my car for more than 2 months is ridiculous by any standard. And then to drop you like a dirty rag, common how Australian is that? what is with insurance companies today? they love taking your money for policies, they love delaying your claims in the event of a claim and then they take joy in having a final victory by dropping you as a client.
The reality is I would of never renewed with Ryno Car Insurance anyway, as I had nothing but heartache and grief during my claim process, I was treated like a common criminal with total suspicion over my claim this is during a process of dealing with my wife’s mother who was diagnosed with a terminal brain tumor and instead of supporting her better, I am dealing with Ryno Insurance their lawyers and investigators trying to get my car insurance claim sorted out. We live we learn people what sometimes appears to be a good deal on face value often leaves us with regret in the end.
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