British RMs Say Ban or Investigate Broker Fees
NU Online News Service, Nov. 8, 4 :16 p.m. EST?The U.K.'s Association of Insurance and Risk Managers is calling for an overhaul of the insurance buying process prompted by a survey of corporate insurance buyers in Europe and the United Kingdom.[@@]
The survey, released Nov. 5, found that 93 percent of buyers surveyed?200 respondents, or about 40 percent of AIRMIC's 450 member companies?would like to see the practice of broker contingent commissions banned or subject to investigation. Of those surveyed, 64 percent said the practice always created a conflict of Interest, AIRMIC announced.
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