Iowa Revokes Insurance, Securities Licenses of Illinois Producer
April 7, 2014 by Iowa Insurance Division
Iowa Insurance Commissioner Nick Gerhart has revoked the insurance producer license and securities agent license of Deanna R. McClean of Rock Island, Ill., state insurance regulators announced.
McClean is also permanently barred from reapplying for those licenses or applying for an investment adviser license.
The state insurance division said McClean consented to the revocation of her insurance producer and securities agent licenses based on her paying customers’ first year premiums for insurance policies to improve her commission scale and inflate her sales commissions by a total of $38,915 for the years 2011 and 2012.
The consent order signed by McClean also alleged that she failed to cooperate in an investigation by the commissioner.
Source: Iowa Insurance Division
