A group of 28 risk managers and senior executives from majorbrokers, insurers, trade associations and regulatory authoritiesheld an invitation-only, closed-door meeting Wednesday in New Yorkto discuss the controversial issue of insurance contractplacements.

The meeting–convened by the Risk and Insurance ManagementSociety as an “open forum”–did not allow press attendance.

Commercial insurance placement has been a touchy topic since NewYork Attorney General Eliot Spitzer presented evidence that majorbrokers and insurers had conspired to steer commercial customers toselect carriers and rig bids on policies.

Since those revelations, the major brokerages have agreed todrop volume-based contingency fees and pay more than $1 billion inrestitution. Zurich American last week agreed to pay $171.7 millionto settle bid-rigging charges.

According to a RIMS account of the session, it involved adiscussion of “integrity, transparency and client-centricity,” aswell as how “to improve quality in insurance placementpractices.”

The meeting, moderated by Ellen Vinck, president of the NewYork-based RIMS, brought together some top industry leaders for a“frank and interactive dialogue” to discuss the need for additionalimprovements in insurance placement practices, and gaveparticipants an opportunity to discuss individual concernsregarding current practices, RIMS said.

The association added that “all constituents agreed on the needto improve the timeliness and accuracy surrounding the insuranceplacement process.” According to New York investigators, insurersover the years had paid brokers incentive fees that served asdisguised kickbacks to steer commercial business theirway–compensation that was not revealed to corporate insurancebuyers.

RIMS said it reiterated that consistent and widespread use ofits Quality Improvement Process and its tools and metrics wouldresult in a “satisfactory and successful product.”

The meeting concluded with “a commitment from participants toreconvene within six months to follow improvements in the insuranceplacement process,” RIMS said.

Attending the meeting, listed in alphabetical order, were:

o Karen Beier, RIMS director, member and chapter services, aswell as vice president of risk management at Shaklee Corp.

o Andrew Cornish, chairman of AIRMIC–the Association ofInsurance and Risk Managers.

o Ken Crerar, president of the Council of Insurance Agents andBrokers, along with Alison Bowman, vice president of memberservices at the CIAB.

o Marie-Gemma Dequae, president of the Federation of EuropeanRisk Management Associations.

o Barbara Devine, vice-chair of the RIMS Quality AdvisoryCouncil, as well as vice president of risk management at StandardParking Corp.

o Peter Durkalski, president of Arthur J. Gallagher &Company.

o Mike Fenlon, director of external affairs at RIMS, as well ascorporate risk manager for United Parcel Service.

o Terry Fleming, a RIMS director and external affairs directorfor the division of risk management in Montgomery County, Md.

o Mike Gaona, audit director at RIMS.

o Kim Hunton, treasurer of the RIMS Canada Council, as well asrisk manager for the City of Ottawa.

o Chris Johnson, senior vice president and manager of theWestern Division at FM Global.

o Mike Koziol, assistant vice president and counsel at theProperty Casualty Insurers Association of America.

o John Lumelleau, president and CEO at Lockton Companies.

o William Malloy, president of Marsh Inc.

o Richard Marko, senior vice president of national markets atLiberty Mutual.

o Jim McIntyre, Washington counsel for RIMS.

o Anne McNally, director of compliance at ABD Insurance andFinancial Services.

o Susan Meltzer, president of theInternational Federation ofRisk and Insurance Management Associations.

o Janice Ochenkowski, RIMS director and treasurer, as well asdirector of global risk management at Jones Lang LaSalle Inc.

o Mary Roth, executive director of RIMS.

o Patrick G. Ryan, executive chairman at Aon Corp.

o Audrey Samers, general counsel of the New York StateDepartment of Insurance.

o Teresa Scott, executive vice president of strategicrelationship management at Zurich North America.

o Grant Swanson, executive director of licensing in the marketconduct division for the Financial Services Commission ofOntario.

o Jeffrey Vernor, chairman of the RIMS Quality AdvisoryCouncil.

o Ellen Vinck, president of RIMS, as well as vice president ofrisk management and benefits at BAE Systems Ship Repair.

o Mario Vitale, CEO of Willis North America.