Two property-casualty insurers, who recently stopped writing business in Virginia, had their certificates to operate in Arkansas suspended by regulators, citing their negative surplus balance.
Two insurance agents in Virginia are accused of illegally selling promissory notes in violation of securities laws through 12 companies operating in the state.
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.