Speak Up Before The Fat Lady Sings
Independent agent associations are not very happy with Consumer Reports, which recently published a piece on N.Y. Attorney General Eliot Spitzer's probe into broker contingency fees and the suit filed against Marsh & McLennan Companies. The magazine essentially told its readers that to avoid potential bid-rigging they should avoid independent agents.
The National Association of Professional Insurance Agents sent a letter to Consumer Reports charging that the publication inaccurately characterized the way independent agents do business. The Independent Insurance Agents & Brokers of America also weighed in, but more needs to be done to maintain the independent agent's well-earned reputation for integrity.
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