Massachusetts-based The Hanover Insurance Group announced it has completed its deal to acquire the Campania Group in a move it says “demonstrates our strong commitment to the healthcare business.”
The Hanover Insurance Group has acquired a Vienna, Va.-based specialty insurance provider in what it calls “a significant commitment toward broadening our professional lines portfolio.”
As a direct result of the Patient Protection and Affordable Care Act (PPACA) – also known as ObamaCare – health insurance agent and broker commissions have been slashed by as much as 50%. Agencies have been forced to lay off employees, limit products and services, shift to other lines, and have seen significant drops in compensation.