Posted On: May 30, 2007, 4:17 pm CDT

Posted By: Your Bond Source

If the Risk Manager was properly performing their duty to their employer or client they would seek out the most competitive offers of insurance and premium. What should the client care if the broker made 10% or 50% commission on the risk as long as the product was the best available in the marketplace.

Just as we may earn rewards at year end for helping a company achieve a profitable year, I am sure many risk managers receive year end bonuses from their employer for a job equally well done. Are they willing to forgo this bonus?

Let's also take this to the next step - Wall Street. Thank you stock brokers for pushing the stock of the week on us and making millions in year end bonuses based on your success of pushing failed stocks on the elderly or the big pension fund. Is Wall Street willing to give up their year end bonuses?

It is time to set the record straight. First this was a bid rigging issue then an issue of upfront pre-payment of bonus commission for the promise to place profitable business during the year. This was never an issue of paying a bonus commission for a past job well done. This was an issue of paying off the large brokers to obtain large blocks of business, tomorrow!