IFAwebnews » commissions

N.D. insurance agent accused of creating policies to pad commissions

Bob Graham — Fri, 18 May 2012 09:25:28 +0000

A Grand Forks, N.D., insurance agent is facing possible license revocation for allegedly making money by creating false insurance policy applications.

N.D. insurance agent accused of creating policies to pad commissions via IFAwebnews.

LPL Financial’s RIA Platform hits $25 billion mark in three years

Bob Graham — Mon, 16 Apr 2012 20:10:57 +0000

LPL Financial, the nation's largest independent broker-dealer, said its RIA Platform, its 3 year old custody unit, has exceeded $25 billion in total assets under custody.

LPL Financial’s RIA Platform hits $25 billion mark in three years via IFAwebnews.

California insurance agent must pay back $62,000 in false commissions

Jaime L. Brockway — Mon, 16 Apr 2012 09:39:42 +0000

A former Culver City, Calif., insurance agent was sentenced for collecting more than $62,000 after submitting 377 fraudulent insurance applications to a life insurer.

California insurance agent must pay back $62,000 in false commissions via IFAwebnews.

Willis investigating $28 million in fraudulent commissions, fees

IFAwebnews Staff — Mon, 12 Mar 2012 20:36:03 +0000

Insurance broker Willis Group Holdings has begun an internal investigation into its discovery of about $28 million in fraudulent overstatements of commissions and fees between 2005 and 2011 in its employee benefits operations.

Willis investigating $28 million in fraudulent commissions, fees via IFAwebnews.

Allstate alerts insurance agents of 1099 errors

Jaime L. Brockway — Wed, 15 Feb 2012 13:09:18 +0000

Allstate Corp., based in Northbrook, Ill., informed its insurance agents about errors in their tax documents regarding two incentive programs.

Allstate alerts insurance agents of 1099 errors via IFAwebnews.

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.