Farmers New Century Insurance Co. of Aurora, Ill., paid a $10,000 fine to the Maryland Insurance Administration for failing to properly modify its water damage coverage to meet a new law that took effect Oct. 1, 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.