New York City
Producers' acceptance of contingent commissions from insurers is "a clear conflict," but the controversial practice is unlikely to be banned unless more clients object to it, New York's former insurance superintendent, Eric Dinallo, said at a recent industry conference.
Mr. Dinallo said he does not think regulators will abolish the use of such arrangements. But while the practice may not be illegal, it is one that should be watched closely, he added.
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