White Plains, N.Y.-based Hermitage Insurance Co. had a pair of its ratings upgraded by A.M. Best, with the ratings service citing the firm’s recent acquisition by the Tower Group.
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.