Philadelphia Insurance Cos. founder, James J. Maguire, retired as chairman of the board Jan. 1, and was replaced by his son, Jamie, who was already president and CEO of the property-casualty insurance and professional liability insurance company based in Pennsylvania.
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.