Aon will soon become the third major insurance brokerage to amend a settlement agreement with New York regulators, in which it was forced to stop accepting certain contingency-based commissions, a state official confirmed.
Aon will have a new agreement “shortly,” according to John Rothblatt, assistant deputy superintendent and counsel for the New York Insurance Department.
He explained that the Aon change has taken longer because their settlement agreement involved the states of Illinois and Connecticut as well.
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