IFAwebnews » commissions

N.Y. wants insurance brokerage closed over alleged kickback scheme

IFAwebnews Staff — Tue, 15 Nov 2011 12:49:15 +0000

A family-run insurance brokerage in Long Island, N.Y. is accused in a civil suit of defrauding hundreds of charities by operating an alleged kickback scheme for 21 years.

N.Y. wants insurance brokerage closed over alleged kickback scheme via IFAwebnews.

Raymond James’ units to pay $2.1 million over excessive commissions

Bob Graham — Thu, 29 Sep 2011 16:13:13 +0000

Raymond James & Associates and Raymond James Financial Services agreed to pay restitution of $1.69 million after the Financial Industry Regulatory Authority found it charged unfair and unreasonable commissions.

Raymond James’ units to pay $2.1 million over excessive commissions via IFAwebnews.

Pa. man convicted of commission scheme loses insurance agent license

Bob Graham — Mon, 13 Jun 2011 18:16:01 +0000

A Blandon, Pa., man who pleaded guilty to insurance fraud has had his Pennsylvania insurance license revoked.

Pa. man convicted of commission scheme loses insurance agent license via IFAwebnews.

AXA Advisors’ employees sue, alleging overtime hours are unpaid

Jaime L. Brockway — Thu, 26 May 2011 10:53:40 +0000

AXA Advisors is accused in a proposed class-action suit filed in New York of overworking thousands of employees without proper compensation.

AXA Advisors’ employees sue, alleging overtime hours are unpaid via IFAwebnews.

MLR exemption doesn’t guarantee insurance agent commission restoration

Bob Graham — Tue, 17 May 2011 11:13:35 +0000

Increased “cost pressures” facing health insurers could mean that an effort to free insurance agent and broker commissions from the grip of the federal health reform law might not lead to restored payments.

MLR exemption doesn’t guarantee insurance agent commission restoration via IFAwebnews.

GAO: Insurance agents could be ‘used’ differently in health exchanges

Bob Graham — Tue, 29 Mar 2011 20:29:59 +0000

“Using health agents and brokers differently” might encourage people to enroll in health insurance, if the controversial individual mandate included in the federal health reform law were eliminated, according to a new government report exploring health exchanges.

GAO: Insurance agents could be ‘used’ differently in health exchanges via IFAwebnews.

Aetna’s Bertolini touts agent commission ‘transparency’

Bob Graham — Wed, 02 Mar 2011 11:42:33 +0000

Aetna is hoping its approach to insurance agent and broker commissions in response to changes under the federal health reform law will prove successful.

Aetna’s Bertolini touts agent commission ‘transparency’ via IFAwebnews.

Unlicensed N.C. man accused of fraudulently taking insurance payments

Bob Graham — Mon, 28 Feb 2011 12:56:07 +0000

A LaGrange, N.C., was charged with selling insurance to people in one county in North Carolina for two years using an other agent’s name and insurance identification number.

Unlicensed N.C. man accused of fraudulently taking insurance payments via IFAwebnews.

Indicted Fla. insurance agent may lose $936,000 in commissions

IFAwebnews Staff — Thu, 24 Feb 2011 16:25:04 +0000

An insurance agent in Florida is facing fraud charges and the possible seizure of nearly $1 million in commissions authorities say he illegally collected from the alleged illegal sale of up to $32 million in unregistered securities in the Tampa Bay area.

Indicted Fla. insurance agent may lose $936,000 in commissions via IFAwebnews.

Agents say their commissions should be exempt medical loss ratios

Bob Graham — Tue, 22 Feb 2011 15:30:30 +0000

Participants, mostly agents, in the latest IFAwebnews.com poll – to no one's surprise – say federal health officials should exempt insurance agent and broker commissions from medical loss ratio calculations.

Agents say their commissions should be exempt medical loss ratios via IFAwebnews.