Rep. Dennis Moore, a Democrat from Kansas, has asked the Government Accountability Office (GAO) to investigate alleged abuses of federally sanctioned risk retention groups (RRGs) by some state insurance regulators.
Legislation has been introduced to permit risk retention groups to write commercial property coverage, expanding their role from the selling of liability insurance only.
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.