Two executives of an Iowa life insurance company will pay a combined $1 million in penalties as part of civil settlements with the U.S. Securities and Exchange Commission regarding misleading proxy disclosures to investors.
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.