Bucking a trend among the largest insurance brokerage firms, Acordia said it intends to continue accepting contingent commissions despite being sued over the practice by the West Virginia attorney general.

Ellen Sievert, director of communications for the Chicago-based insurance brokerage firm, delivered the following statement: "We believe contingent commissions, properly administered, are not inconsistent with the responsibility of our brokers to their customers. At this time, Acordia will continue to accept contingent commissions, subject to our processes and procedures for customer disclosures, which are based on a recommended model by the National Association of Insurance Commissioners."

Last week, West Virginia Attorney General Darrell McGraw announced a suit against Acordia, which is a subsidiary of San Francisco-based financial services company Wells Fargo, accusing the broker of hiding the payment of contingent commissions it received from insurers from clients.