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, 7:17 am CDT
Posted By: T
Comment:
Jim, let's not get carried away. Saying that the commission model has outlived its usefulness is not the same as saying capitalism is obsolete. I'm all for profit sharing for agents and brokers (and for disclosure to clients, by the way), but when I read an accusation that someone opposes capitalism, I see that as a coded way of calling that person un-American. I hope that wasn't your intent.
Eliot Spitzer may well be elected governor of N.Y. next year, but it won't be the insurance investigation that gets him there. I live in N.Y. and in my experience, the only people who care about this are insurance industry employees, insurance regulators, and legislators (and I'm not sure how many legislators really care). When I mention the Spitzer investigation to friends outside the industry, most of them don't know what I'm talking about.
Subject: RE: RE: RE: Wharton Study Biased Like All Industry Sponsored
Eliot Spitzer may well be elected governor of N.Y. next year, but it won't be the insurance investigation that gets him there. I live in N.Y. and in my experience, the only people who care about this are insurance industry employees, insurance regulators, and legislators (and I'm not sure how many legislators really care). When I mention the Spitzer investigation to friends outside the industry, most of them don't know what I'm talking about.