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.
Travelers, the biggest U.S. property insurer by market value, said first-quarter profits fell 32% as values on its investments sagged along with the economy.
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.