A major insurance broker said it will not accept supplemental compensation plans offered by some carriers because the arrangements do not avoid conflict of interest.
In a statement today, Willis Group Holdings in New York said the current plans do not avoid the conflict of interest situations that were associated with contingent commissions when they were dropped by the major brokerage firms a few years ago.
Willis said the plans involve performance-driven elements dealing with retention, growth and profitability that were the basis for conflict of interest accusations originally.
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