Wells Fargo says it plans to appeal a Connecticut court ruling against its insurance brokerage, Acordia, regarding improper disclosure of contingent commissions.
Two property-casualty insurers, who recently stopped writing business in Virginia, had their certificates to operate in Arkansas suspended by regulators, citing their negative surplus balance.
As a direct result of the Patient Protection and Affordable Care Act (PPACA) – also known as ObamaCare – health insurance agent and broker commissions have been slashed by as much as 50%. Agencies have been forced to lay off employees, limit products and services, shift to other lines, and have seen significant drops in compensation.