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I expected more grumbling about broker compensation when Willis CEO Joe Plumeri rejected the latest contingency bonus arrangements proposed by selected carriers, but the last controversy I expected was over “float”–the long-time practice of intermediaries collecting premiums from policyholders, only to hold onto them for 30, 60 or even 90 days before turning them over to insurers, earning investment income or putting them to some other use in the interim.

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