Another agent you know has engaged in misconduct that has been verified by the plan she represented. What sort of penalty might the plan impose on this individual

The plan may withhold commission , require training, report the misconduct to a state department of insurance or terminate the contract. ( not sure if this is the exact answer. Hopefully it helps.

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Parrain Parrain · Answer 2 · 2021-09-02T15:17:27+02:00

As a penalty, the plan d. may withhold commission, require retraining, report the misconduct to a state department of insurance or terminate the contract.

Insurance agents are required to abide by certain requirements to ensure that they engage in proper business practices. Sometimes these can be violated.

When they are, the plan that they represent needs to verify that indeed there was misconduct. They then have several options on how to deal with the violation including:

withholding commission from the agent in relation to the job
requiring that the agent go for retraining so as to be reminded of the requirements
report the agent to the relevant state authorities
terminate the agent's contract

In conclusion therefore, agents should avoid misconduct as their pay could be withheld, they could be fire, forced to go for retraining or reported to the government.

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