Swett & Crawford Head Resigns
By Mark E. Ruquet
NU Online News Service, March 15, 8:29 p.m. EST?The head of Aon's wholesale insurance brokerage firm Swett & Crawford resigned Monday.[@@]
Al Orendorff, a spokesman for the Chicago-based insurance broker Aon confirmed the resignation of Thomas Comer, Swett & Crawford's chief executive officer. Mr. Orendorff said there was no additional comment on his resignation.
Last month, Patrick G. Ryan, Aon's chairman and chief executive officer said the firm was exploring "alternatives" to the ownership of Swett & Crawford.
Wholesale unit ownership has come into question since state regulators began investigating broker contingency fee agreements.
Regulators have raised questions concerning steered of accounts by retail brokers to their wholesale units to the detriment of their clients, collecting additional commission fees in the process and not informing their clients.
Last month, Willis Group said it would sell its wholesale insurance group, Stewart Smith Group, to American Wholesale Insurance Group, Inc., based in Charlotte, N.C.
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