Citing its privately held parent company’s “lack of financial flexibility,” A.M. Best has downgraded the ratings of Wayne, Pa.-based Regis Insurance Co.
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.