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: RE: RE: RE: Wharton Study Biased Like All Industry Sponsored
Posted On: June 9, 2005, 7:15 am CDT
Posted By: Jack J Maniscalco
Comment:
Don P,
In the 28 plus years I have been in this business, I have never read anyone so anti-insurance as Robert Hunter. You expect his organization to be fair?
As many of our colleagues and my (NY) Insurance Commissioner have acknowledged, there is a world of difference between the Aons and March Macs and the Main Street agent/broker.
The mega brokers usually work with their client's risk managers. Those folks should be well aware of what they are buying, how it is priced, and then make a judgement of whether or not the deal is fair.
I do not agree with bogus submissions, just to block markets. I am glad someone is looking into that situation.
But, when a willing buyer and seller come together to do business...that is capitalism. That is what we do. At the level at which these "abuses" occured, all of the parties should have gone into the situations with their eyes open.
I am surprised Mr Spitzer hasn't brought an action against Willis for the WTC.
Subject: RE: RE: RE: Wharton Study Biased Like All Industry Sponsored
In the 28 plus years I have been in this business, I have never read anyone so anti-insurance as Robert Hunter. You expect his organization to be fair?
As many of our colleagues and my (NY) Insurance Commissioner have acknowledged, there is a world of difference between the Aons and March Macs and the Main Street agent/broker.
The mega brokers usually work with their client's risk managers. Those folks should be well aware of what they are buying, how it is priced, and then make a judgement of whether or not the deal is fair.
I do not agree with bogus submissions, just to block markets. I am glad someone is looking into that situation.
But, when a willing buyer and seller come together to do business...that is capitalism. That is what we do. At the level at which these "abuses" occured, all of the parties should have gone into the situations with their eyes open.
I am surprised Mr Spitzer hasn't brought an action against Willis for the WTC.