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A Brief History of Contingent Commission Agreements

Features • February 7, 2005
Contingent commissions first appeared in the 1960s when claims were rising much faster than the rate of inflation and insurance companies cut agent commissions on premiums. To make up for this ...

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Subject: contingent commissions

Posted On: October 2, 2007, 3:34 pm CDT
Posted By: Lori
Comment:
I feel that some brokerages misuse the contingent commissions, but this is human nature. The commission is needed for these brokerages and agents that keep and meet their quota. It helps maintain an agents income. The agent or broker is important to a customer. Without them customers would be dealing with the insurance company alone. They deserve the commission. The brokerages should use a Declaration of Compensation to protect themselves, which is a strategy that provides full disclosure to their customers.
Subject Posted By Posted On
contingent commissions Lori
Oct 2, 2007, 3:34 pm
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