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August 06, 2006

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ProLiabProf

As I've written elsewhere (http://papers.ssrn.com/abstract=877488 ), I'm concerned that "regulation by settlement" will continue in the producer compensation area until the insurance community itself rallies around some measure of increased transparency. I've argued for what I call "status disclosure" (i.e., is the producer acting as an agent or a broker?), as being preferable to disclosure of the financial details of compensation, but the bottom line is that Eliot Spitzer and the other AGs are simply filling a void that will remain until our industry and its designated regulators come to terms with this issue.

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