Iowa Insurance Commissioner Nick Gerhart has revoked the insurance producer license and securities agent license of Deanna R. McClean of Rock Island, Ill., state insurance regulators announced.
McClean is also permanently barred from reapplying for those licenses or applying for an investment adviser license.
The state insurance division said McClean consented to the revocation of her insurance producer and securities agent licenses based on her paying customers’ first year premiums for insurance policies to improve her commission scale and inflate her sales commissions by a total of $38,915 for the years 2011 and 2012.
The consent order signed by McClean also alleged that she failed to cooperate in an investigation by the commissioner.
Source: Iowa Insurance Division
Was this article valuable?
Here are more articles you may enjoy.
Liberty Mutual Posts $1.5B Net Income for Q1, Reversing Loss 
Worsening Weather Igniting $25 Billion Weather Derivatives Market 
Viewpoint: The 10 Major Risks Shaping Insurance Today 
Three Insurers Reject Chevron’s $57 Million Claim for Iran Oil Seizure 
