Behind Closed Doors

Despite preaching the need for disclosure and transparency in broker compensation, the Risk and Insurance Management Society last week banned the press from covering a morning-long session on the contingency fee scandal at its annual conference.

To help its members cope with the new emphasis on accountability and make sense of whatever information might be disclosed, RIMS devoted a two-part, three-hour session to “Broker Contingency Fees, What You Should Know.” A panel of experts, RIMS said, would “review types and amounts of contingency fees involved in placement service agreements” as well as “examine insightful legal and ethical issues in evaluating broker services.”