Risk and reinsurance specialist Guy Carpenter & Co. announced an agreement to buy all the shares of United Kingdom-based reinsurance broker Rattner Mackenzie Limited from HCC Insurance Holdings Inc.
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.