Iowa Revokes Insurance, Securities Licenses of Illinois Producer

Iowa Insurance coverage Commissioner Nick Gerhart has revoked the insurance coverage producer license and securities agent license of Deanna R. McClean of Rock Island, Unwell., state insurance coverage regulators announced.

McClean is also completely barred from reapplying for individuals licenses or applying for an investment adviser license.

The state insurance division mentioned McClean consented to the revocation of her insurance coverage producer and securities agent licenses based mostly on her paying out customers’ 1st yr premiums for insurance coverage policies to boost her commission scale and inflate her sales commissions by a total of $ 38,915 for the years 2011 and 2012.

The consent purchase signed by McClean also alleged that she failed to cooperate in an investigation by the commissioner.

Supply: Iowa Insurance coverage Division

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