The New York insurance commissioner’s decision to seek additional information from Allstate Corp. about possible credit default swap activity is drawing fire from a free-market think tank.
A recent opinion piece in the New York Times has lead New York regulators to request more information about “unregulated insurance markets” and credit default swaps from Allstate Corp.
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.