Property-casualty insurers say a new law increasing auto liability rates for Maryland drivers could drive away consumers, while agents’ groups say while that may occur, the changes also will better protect clients injured in an accident.
As agent groups in Maryland await word of who will be their next insurance commissioner, they are hoping Ralph S. Tyler’s successor mirrors his open communication style.
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.