Impact of Spitzer Broker Fraud Charges Felt at Marsh and Beyond
National News • October 18, 2004
New York Attorney General Eliot Spitzer's filing last Thursday of charges against giant insurance broker Marsh for alleged commercial account steering and bid rigging has already had significant ...
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Subject: RE: RE: Spitzers insurance investigation and chargess
Posted On: October 18, 2004, 2:26 pm CDT
Posted By: Steve
Comment:
You're using semantics to make this fit your idea of what is right and wrong. Of course agents can make contingencies work against the benefit of the client. If Mr. Agent has company A who pays him handsomely on the back-end and company B who doesn't, then this can have an impact on his decision about which insurer to place a client with. Period.
Having said this, I still don't think that contingency arrangements should be automatically cast off as "illegal" or "unethical" (as they are currently being portrayed), real transparancy (not the B.S. Marsh tried to pull off) should allow this practice to continue as long as the clients have the whole picture.
Subject: RE: RE: Spitzers insurance investigation and chargess
Having said this, I still don't think that contingency arrangements should be automatically cast off as "illegal" or "unethical" (as they are currently being portrayed), real transparancy (not the B.S. Marsh tried to pull off) should allow this practice to continue as long as the clients have the whole picture.