Plumeri Talk Sparks Controversy PIAslams Plumeris call to end contingency fees at RIMS
A call by the head of a large brokerage last week for the entireinsurance industry to abandon scandal-plagued incentive feessparked an angry debate between a big brokers trade group and anorganization representing Mom-and-Pop agencies.
At issue were the remarks by Joe Plumeri, chief executiveofficer of Willis, who was slammed by the National Association ofProfessional Insurance Agents after he appeared at the annualconference of the Risk and Insurance Management Society and saidthere should be an end to contingent commissions that encompassedwhat PIA calls Main Street agents as well as large brokerages.
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