You should also be concerned about possible allegations of blackmail or extortion if threats to keep quiet we're made to the broker.
But it's likely if it did come out, he could lose his license.
Possible under § 490 Business & Professions Code, but not expected unless there is an arrest or criminal conviction.
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If you are asking whether or not a life insurance broker can loose his license for prostitution than I agree with the previous answer.
But, more information is needed - and wouldn't you be equally concerned about the risk of an arrest and other ramifications???
This is my opinion and should not be construed as legal advise for your specific case as there are many more facts which you have not provided.