Insurance agents and financial service professionals many find themselves increasingly in the crosshairs of business owners looking to save their businesses, a lawyer in Massachusetts is warning.
Cabinet NG (CNG) has unveiled CNG-ONLINE, document management software to aid financial advisors in making the transition to a paperless environment to meet U.S. Securities and Exchange Commission and Financial Industry Regulatory Authority compliance requirements.
Pledging to be “vigilant” in enforcing the state’s insurance laws, Connecticut’s insurance commissioner has fined Zurich Insurance Group $235,000 for several violations, including the use of unlicensed agents and adjusters.
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.