Property-casualty insurer The Travelers Cos. is setting up an institute in Washington, D.C., to be closer to decisions that will craft the industry for years to come.
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.