Travelers has written a letter to agents and brokers emphasizing to them that controversial contingent compensation payments are not part of the company's current fee system.
The company in an open letter to independent agents and brokers, posted on a company Web site accessible only to producers, said it will drop the word "supplemental" when discussing the commission agents receive because it is causing confusion among some who believe it remains a form of contingent compensation.
A copy of the letter was provided by a company representative.
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