Can Producers Also Be Risk Managers?
The question posed for this column by one of our readers involves a producer who seeks to be the risk manager for his major client:
"A producer is trying to be added to the payroll of a large client as its risk manager. He has only a license to sell insurance and no designations or a consultants license. He wants an office at the clients facility, a phone line, and to be able to correspond with others as the risk manager for this entity. Is this an ethical conflict of interest? Does the answer change if the producer does not take a salary from the client?"
The major potential ethical issues identified by readers were: compensation, legality, experience, control of business, mixed allegiances, access and sharing of client information, and level of risk management services provided.
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