6/17/2010

Two insurance-agent associations voiced opposition to the federal government's decision to reduce the subsidy for the national crop insurance program by $6 billion during the next 10 years, saying the cut could have a negative impact on the program. The groups also hit the Risk Management Agency's move to limit agent commissions to 80%. "In an unprecedented move, this represents the very first time that RMA has attempted to directly regulate agent crop insurance commissions rather than allow the marketplace to determine the appropriate commission," said the Independent Insurance Agents & Brokers of America.

Related Summaries