In the wake of the brokerage price-fixing scandal, a survey of commercial insurance buyers' reports they are paying closer attention to their broker arrangements and making changes in multimillion-dollar insurance programs.
The findings from a poll of risk managers at more than 500 U.S. and Canadian corporations and government entities were reported by New York-based Advisen Ltd.
Almost half the buyers who participated in the survey said they had made some significant change in the relationship with their incumbent broker--including replacing the broker or re-assigning some portion of their program to a new broker--or are considering a material change in their current broker relationship over the next 18 months, Advisen said.
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