Wharton Study Finds Agents, Brokers Play Critical Role in Buying Process
National News • June 8, 2005
Profit-based contingent commissions align the interests of independent agents and brokers and the insurer so that correct pricing of policies is achieved, thereby alleviating adverse selection, ...
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Subject: Breaking News??? Hardly.
Posted On: June 8, 2005, 5:06 pm CDT
Posted By: Curtis
Comment:
Every true Insurance Professional already knew this. Will someone please see that Spitzer and the other Attorney General's see this as they don't get it. Even if the study was done by the Insurance Industry it still is very valid. I have, for my entire career, wished we charged fees as do other professionals (accts/attys) so we could actually do an even better job for the client. This would work for commercial lines but not well in the personal lines area. I am very proud of my profession and what it does for the public. There are bad apples in every Industry but it is sad to know that the entire Industry has been made to look like crooks because of a few bad apples and a guy who could really care less about learning the business of Insurance.
Subject: Breaking News??? Hardly.