Mass Marketing of Insurance to Groups and Associations Checklist

Summary

This checklist highlights critical issues that can arise in mass marketing insurance products through groups and associations. It will define mass marketing and clarify significant characteristics that differentiate it from the singular sale of individual insurance products. Attorneys representing parties on all sides of an insurance transaction can note potential benefits and pitfalls of mass marketing and of products that are commonly distributed by that means. The checklist also addresses differences in regulation between mass marketing and individual marketing, including as it relates to insurance representatives. The regulatory issues also involve the insurer that issues the product and / or directly sells it to consumers. Potential of fraud on the part of, and its effect on, all three parties to an insurance transaction—the insurer, the insurance representative, and the individual or business insurance consumer—are detailed.