Pending Leg to eliminate commissions and allowing fees
Posted on 04/19/2011
Possible pending Legisation here in Louisiana is looking into changing how all insurance agents will get compensation by allowing the insurer to negoiate any combination of fees & commissions or just fees. It is my understanding that California has already gone to some form of this type of compensation, even on personal lines. Could any agents from California confirm this and advise when this went into effect, as well as give their opinion as to how well it is working. If they could also give some information on how it has effected smaller agencies and larger agencies. If they have any suggestions on what changes they would like to see implemented it will all be appreciated. Our session opens Monday, any and all help in evaluating this change will be appreciated.