A Bermuda-based insurance holding company acquired Heartland Crop Insurance, a Topeka, Kan.-based managing general agent, as its builds its business into “shorter tail specialty lines.”
A worldwide insurer with its U.S. operations based in New York announced its acquisition of a U.S. insurance operation to further diversify its business.
The Obama Administration’s plan for handling crop insurance commissions marks a sea change that one property-casualty insurance trade group does not like.
Three national insurance agents’ groups are voicing their opposition to proposed agent commission soft caps and profit-sharing proposals as part of the Federal Crop Insurance Program (FCIP).
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.