Broker Contingency Fees Not A Conflict Of Interest

On behalf of the Independent Insurance Agents & Brokers of America, I write in response to issues raised in Editor-in-Chief Sam Friedmans recent commentaries concerning the compensation of insurance brokers. I would like to set the record straight and finally put to rest the suggestion that brokers are acting in a devious, secretive or conflicted manner when compensated by insurers.

Over the last several years, state and federal regulators and law enforcement officials have done an admirable and superb job unearthing illegal corporate and financial scandals. Their actions and ensuing reforms have helped restore confidence to consumers and have put other industries on notice that similar fraud will be punished.

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