I've taken a hammering over my Oct. 10 blog entry–repurposed as my Oct. 20 NU editorial column, "The Party's Over"–in which I not only slammed AIG for taking top producers on junkets right after getting a federal bailout loan, but challenged the use of such incentive compensation itself. I suggested this at least created the potential for a conflict of interest by tempting agents and brokers to place business with a particular carrier because they might win a fancy trip, rather than putting the best interest of the client first. However, one question I repeatedly posed has yet to prompt a response: If trips to posh resorts do not convince producers to move more business to the sponsoring insurer, why do carriers pay millions to host them?
Continue Reading for Free
Register and gain access to:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
