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Spitzer Notifies Insurers Contingent Commissions No Longer an Option
National News • November 30, 2006
New York Attorney General Eliot Spitzer has notified four leading insurance companies that, under agreements reached with his office earlier this year, they may no longer pay "contingent ...
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| Subject | Posted By | Posted On |
|---|---|---|
| RE: working more for less | Les | Dec 11, 2006, 10:42 am |
| RE: What's next for agents of 4 carriers in 2007? | B.P. in CA | Dec 7, 2006, 7:04 pm |
| What's next for agents of 4 carriers in 2007? | Dazed and Confused Too | Dec 7, 2006, 4:26 pm |
| RE: RE: Prostitution 103 and now this! | Reality Check | Dec 5, 2006, 3:40 pm |
| What would you do/say? | Death Beast | Dec 5, 2006, 3:29 pm |
| RE: Ralph Nader | Death Beast | Dec 5, 2006, 3:23 pm |
| RE: Prostitution 103 and now this! | Death Beast | Dec 5, 2006, 3:12 pm |
| Sister of the industry 6:55AM | Hawk | Dec 5, 2006, 11:22 am |
| RE: RE: The controversy continues | Reality Check | Dec 5, 2006, 8:03 am |
| RE: The controversy continues | Jack J Maniscalco | Dec 5, 2006, 7:16 am |
| The controversy continues | Sister of the industry | Dec 5, 2006, 6:55 am |
| Problems in NY | Local Agent in NY | Dec 4, 2006, 4:50 pm |
| RE: Company Guy | Company Guy | Dec 4, 2006, 3:09 pm |
| RE: Company Guy | Jack J Maniscalco | Dec 4, 2006, 3:06 pm |
| Company Guy | 50 Year Agent | Dec 4, 2006, 2:55 pm |
| RE: Company Guy | Company Guy | Dec 4, 2006, 2:49 pm |
| Company Guy | 50 year agent | Dec 4, 2006, 2:41 pm |
| Ralph Nader | Tonka | Dec 4, 2006, 2:36 pm |
| You Would Capitulate Too With A Gun At Your Head | Company Guy | Dec 4, 2006, 2:29 pm |
| Why weren't we there? | Tom Drawert | Dec 4, 2006, 2:25 pm |
| Independent Reality of 9:51AM | John B | Dec 4, 2006, 2:24 pm |
| RE: Why weren't we there? | Tom Drawert | Dec 4, 2006, 2:24 pm |
| The Travelers sell out | LLB | Dec 4, 2006, 2:05 pm |
| RE: New York rules the entire country??? | bill P | Dec 4, 2006, 1:24 pm |
| RE next? Yea right | grumpy | Dec 4, 2006, 1:06 pm |
| RE: RE: Prostitution 103 and now this! | Reality Check | Dec 4, 2006, 12:45 pm |
| RE: RE: Ban Lawyer's Contingent Fees, too! | d.alumbaugh | Dec 4, 2006, 12:14 pm |
| RE: Prostitution 103 and now this! | Reality Checkmate Agent | Dec 4, 2006, 11:45 am |
| Contingent Commissions | New York City Agent | Dec 4, 2006, 11:29 am |
| RE: Contingent Politicians | Hilton G. Martin | Dec 4, 2006, 11:08 am |
| Prostitution 103 and now this! | Reality Check | Dec 4, 2006, 10:17 am |
| RE: What's next? | diane | Dec 4, 2006, 7:56 am |
| RE: RE: RE: Contingent Politicians | Bea | Dec 4, 2006, 7:05 am |
| RE: Spit | Be | Dec 4, 2006, 7:03 am |
| NY Problems | Local Agent in NY | Dec 3, 2006, 7:14 am |
| RE: Ban Lawyer's Contingent Fees, too! | Prakash V. Naor | Dec 2, 2006, 11:46 am |
| Ban Lawyer's Contingent Fees, too! | Bill | Dec 2, 2006, 10:46 am |
| Governor-elect Spitzer | NY agent | Dec 1, 2006, 10:25 pm |
| Spit | LG | Dec 1, 2006, 6:41 pm |
| RE: RE: Contingent Politicians | HARRY | Dec 1, 2006, 4:26 pm |
| RE: Contingent Politicians | Oklahoma Agent | Dec 1, 2006, 4:18 pm |
| RE: Spitzer | Dick | Dec 1, 2006, 4:16 pm |
| RE: Contingent Politicians | joe | Dec 1, 2006, 4:02 pm |
| RE: Independent Reality | Buiness Man | Dec 1, 2006, 3:56 pm |
| What's next? | MindingmyBusiness | Dec 1, 2006, 3:52 pm |
| Contingent Politicians | Let's See | Dec 1, 2006, 3:47 pm |
| RE: What's next? | Bob | Dec 1, 2006, 3:34 pm |
| What's next? | Dazed and confused | Dec 1, 2006, 3:20 pm |
| Spitzer | Mark Hester | Dec 1, 2006, 3:20 pm |
| RE: RE: Independent Reality | Chuck | Dec 1, 2006, 3:11 pm |
| RE: RE: RE: RE: Independent Reality | Mark | Dec 1, 2006, 3:07 pm |
| RE: RE: Independent Reality | Bob | Dec 1, 2006, 3:00 pm |
| RE: RE: RE: Independent Reality | Jack J Maniscalco | Dec 1, 2006, 2:49 pm |
| RE: Independent Reality | dan | Dec 1, 2006, 2:43 pm |
| RE: RE: Independent Reality | Steve | Dec 1, 2006, 2:40 pm |
| RE: Independent Reality | Ray | Dec 1, 2006, 2:35 pm |
| RE: RE: Independent Reality | Marm | Dec 1, 2006, 2:33 pm |
| RE: Independent Reality | Scott | Dec 1, 2006, 2:25 pm |
| New York rules the entire country??? | Nancy Lee | Dec 1, 2006, 12:45 pm |
| Contingent Commissions | Dale Longfellow | Dec 1, 2006, 12:32 pm |
| Another way | Seems to me | Dec 1, 2006, 11:11 am |
| Contingent Commissions | Lawrence Whalley | Dec 1, 2006, 11:02 am |
| Independent Reality | Independent? | Dec 1, 2006, 9:51 am |
| Justice? | David | Dec 1, 2006, 8:05 am |
| Back to article | ||
Subject: RE: What's next?
However, there are portions of the settlements that are is direct conflict with regulations in some states. In some cases if the agent follows the settlment he breaks the law.
There is actually a belief by some AG's that disclosure by Agents of their commission equals full transparency. Really ? What about Intermediaries, MGA's wholesalers, reinsurers, seeding companies... and worse yet carriers who "buy" business with no disclosure of their loss ratios. That has a greater chance of hurting a consumer than anything else.
I wonder if anyone knows how many independent agencies outside of the Top 25 firms were found guilty of these actions. If the answer is none, than how could this fix something not broken ...
There are way too many holes in this theory that disregards the way business is done and will ultimately let bad guys be bad again.