A public awareness campaign to educate risk managers about the evils of contingent commissions launched by Willis here last week sparked heated debate about the practice among the biggest brokers and insurers, with one of the firm's competitors calling the dispute nothing more than a “red herring.”
Joe Plumeri, chair and chief executive officer of Willis Group Holdings, urged buyers to “use their wallets to send a strong signal against the controversial payments.”
He unveiled a new interactive Web site (www.ClientsBeforeContingents.com) as the centerpiece of the Willis initiative to discourage the use of contingents, during a press conference at his exhibit booth during the Risk and Insurance Management Society's annual conference.
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