Is A Stampede Coming?
In westerns, an old, grizzled scout will cock his head, hearing something no one else picks up. He climbs down from his horse and literally puts his ear to the ground. To the amazement and consternation of his fellow cowboys, he declares that a stampede is heading their way and they can either run for cover or be run over.
That's the feeling I get from the widening probe of contingency fees. Brokers thought they had put this controversy behind them back in the late 1990s, when agreements were announced to disclose side deals with insurers to risk managers. But the dispute is rearing its ugly head again, threatening to crush long-standing compensation practices beneath a regulatory stampede.
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