A True Story about Insurance for a Contractor
Here’s an interesting narration that may make a business owner think twice before bragging about ‘fake’ activity.
Joseph from Prime Insurance recently wrote a policy for a contractor. Then he hit a snag: the insurance carrier threatened to cancel the day after binding because the insured’s online presence indicated he was performing much more than Prime had reported.
The simple explanation behind the exaggerated activities was the contractor’s desire to attract online attention to his business.
Upon Prime’s prompting, the contractor cleaned up his online presence, allowing Prime to convince the carrier to rescind the insurance cancellation.
Businesses: watch what you post online! Fact is that it is not only potential customers that will view it…
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Summary: When a contractor embellished his activities online, it backfired by getting his insurance cancelled. Here’s what we can learn from the story.