Recent Calif. Regulator Actions Create Insurance Agent/Broker Concerns

January 7, 2011

January 7, 2011 at 12:48 pm

CSP says:

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This idiot is only going to raise the cost of Health Insurance. Health companies will do what many property casualty companies have done, start an Managing General Agency (MGA) that is a whole owned subsidiary. All independent agents and individuals will have to go to the MGA, a brokers fee will then be added to cover the costs no longer allowed by the DOI. Then the Independent Agent will have to add a brokers fee to make any money.

Note: That in this arrangement, any production bonuses that in the past went to the independent agent, will only go to the MGA. I know one publicly traded company that has this contigency fee stated in the 10K Report.

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January 7, 2011 at 12:58 pm

ex-health broker says:

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you know this is driving all of this towards a one payor government system. if agents are no longer paid commissions then we will not be selling health insurance. so the health insurance will be sold thru the exchanges all ready being set up by obamacare…

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January 7, 2011 at 4:27 am

paul avila says:

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I have always been a advocate of associations.Instead of self indulgence,organize is the key to fighting Sacramento.It will get worse.

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January 8, 2011 at 6:44 am

AZInsMan says:

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This monstrosity of a joke/bill, will cost trillions and truly make everything worse. Any business the govt gets involved with gets more expensive.
Wake up people, this chicago jerk runs the country like he played in chicago, and that is crooked all the way. Everything is legal if the right people are paid off.

Get this guy OUT! Impeach for attempting to affect elections during Senate races in THREE states. He pushed his administration to try to remove a candidate in favor of his. That is a felony. Appoint a special prosecutor and impeach!!!!!!!!!!!!!!!!

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