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Contingent Commissions Make a Comeback

Risk managers criticize agreement

By staff Writer | Updated on February 01, 2010

Risk managers aren’t happy about last month’s news that state regulators in New York, Illinois and Connecticut have agreed to allow the three biggest insurance brokers–Marsh, Aon and Willis–to once again collect contingent commissions from insurance companies.

The Risk and Insurance Management Society (RIMS) cited its “dismay,” arguing that disclosure rules recently put out by the New York State Insurance Department do not do enough to protect buyers of commercial insurance from the problems that could arise from such commissions.

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