Agent Critical Of RIMS Contingent Ban Request

Agents groups have issued strong criticism of comments by a risk manager’s group that called for the elimination of agent contingent commissions due to what it termed an inherent conflict of interest in the fees.

The Risk and Insurance Management Society Inc. issued a statement Wednesday that was roundly critical of brokers who might be considering taking contingent commissions after promising they would not. It was also critical of the carriers’ promotion of compensation models that would promote contingent payments.