Risk managers from both the private and public sectors issuedrenewed calls for complete transparency and full disclosure of allbroker revenue from insurance placements and services to make sureevery transaction is in the buyer's interest.
The latest push for broker compensation disclosure came inseparate statements and independent initiatives from the Risk andInsurance Management Society and the Public Risk ManagementAssociation.
The RIMS report–”A Practical Guide to Insurance BrokerCompensation and Potential Conflicts of Interest for the RiskManager”–was released to assist corporate insurance buyers inunderstanding broker compensation and potential conflicts ofinterest, the New York-based group said.
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