NU Online News Service, Oct. 20, 3:52 p.m. EDT

Although contingent commissions could represent a conflict in the relationship between producers and consumers, it is a conflict that can be managed and should not necessarily result in the prohibition of the practice, former New York Insurance Superintendent Eric Dinallo said.

Broker compensation that has received attention since a series of settlements in 2005, in which major brokers agreed to forego contingent commissions after investigations in New York turned up evidence that commercial insurance brokers were not disclosing compensation arrangements and steering clients to insurers involved in a bid rigging scheme.

Recommended For You

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • 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
NOT FOR REPRINT

© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.