The president and CEO of New York, N.Y.-based NYMAGIC, said the recent ratings affirmation for his company and its subsidiaries is “a confirmation of our financial strength.”
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.