SAVANNAH, GA.–The National Conference of Insurance Legislators has put off a vote on a resolution accusing state attorney generals of evading the legislative process by negotiating settlements banning brokers' contingent commissions.
The resolution considered at NCOIL's spring meeting here was aimed primarily at the agreements negotiated between three state attorneys general with Marsh, Willis and Aon and other brokerages following the 2004 scandal over compensation.
At that time, New York Attorney General Eliot Spitzer charged during the course of an investigation that hidden contingent commissions collected from insurers were part of a scheme to rig bids and steer clients.
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