Conseco Life Insurance Co. agreed to establish a $10 million fund and pay a $1 million “monetary assessment” to settle a multi-state complaint regarding its handling of policy increases for its Lifetrend product in 2008.
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.