Isn't it ironic that the day after I post an entry on broker fee disclosure, Marsh comes out with plans for a new compensation scheme to offset the billion dollar loss they suffered by swearing off contingency fees to settle bid-rigging charges? Will it pass muster with buyers? And how long will Michael Cherkasky be able to hang on as president and CEO of Marsh & McLennan Companies given his own startling admission of leadership failures?
As reported by our own Mark Ruquet on NU's Online News Service earlier today:
“To deal with what has become an unlevel playing field between brokers who take contingent commissions and those who do not, Marsh is discussing with carriers payment of enhanced commissions on midsize and small commercial accounts in the United States,” Mark wrote. (For the full story, click here.)
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