The Independent Insurance Agents & Brokers of New York (IIABNY) åis challenging an argument by a Risk and Insurance Management Society (RIMS) official about the role of contingent commissions.
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.