Maurice “Hank” Greenberg, one-time CEO of American International Group and one of the insurer’s largest shareholders, is reuniting with some of his former colleagues for a new insurance venture.
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.