Plumeri Talk Sparks Controversy PIA slams Plumeris call to end contingency fees at RIMS
A call by the head of a large brokerage last week for the entire insurance industry to abandon scandal-plagued incentive fees sparked an angry debate between a big brokers trade group and an organization representing Mom-and-Pop agencies.
At issue were the remarks by Joe Plumeri, chief executive officer of Willis, who was slammed by the National Association of Professional Insurance Agents after he appeared at the annual conference of the Risk and Insurance Management Society and said there should be an end to contingent commissions that encompassed what PIA calls Main Street agents as well as large brokerages.
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