Despite the lingering effects of the financial crisis and other challenges, the property-casualty industry has remained focused on its core business, said CEOs of a handful of property-casualty insurers.
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.