Jul 08, 2020
Principal implemented a 10% premium credit for fully insured dental customers beginning in June. To avoid an impact to broker compensation, Principal provided a bonus equal to any commission loss attributable to the discount. Unfortunately, they experienced a technical issue that resulted in overpayment on June 20, 2020 broker compensation statements.
Principal is reversing this overpayment on July 8, 2020 compensation statements. The total amount of compensation brokers were expecting to receive over these two periods remains the same and is now accurate.
