Nationwide Life Insurance Co. and Nationwide Life and Annuity Insurance Co. have settled claims with five state insurance regulators regarding unsuitable variable annuity sales to clients of a Kansas-based financial advisory firm.
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.