Doug Simpson has an update on disclosure of commissions and elimination of contingent commissions, with commentary and links (see here). Included is some discussion of the NAIC’s role and a variety of links on the topic.
It is unclear whether the move away from contingent commissions is going beyond the large brokers, and at least one large brokerage organization has refused to give up contingent commissions. In addition, a recent study contends that contingent commissions are beneficial to customers (see prior post here, and other articles here, here and here).
Specialty Insurance Expertise: Tennant Risk Services
Content © Worldwide Facilities, LLC, 2005 - 2019 | All Rights Reserved.