The U.S. House of Representatives approved an insurance agent licensing reform bill that would provide non-resident licensing reciprocity among states.
When the Virginia General Assembly reconvenes in Richmond Jan. 13, it could consider forcing agents to pay restitution to victims whose funds they misappropriated, as well as a number of other insurance bills.
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.