Opinion: Peter Blanc on the changing fees and commission landscape
IPT is pushing some areas of the market from commission to fee, says Peter Blanc
There has been some commentary lately regarding broker commissions and in particular a high profile falling out between an insurer and a broker which apparently has been caused by commission demands. As ever, this prompts discussion about the whole concept of commission as a mechanism for remunerating brokers. Is there a problem here? Does this remuneration system still work?
For the vast majority of day-to-day small insurance broking arrangements the commission model works perfectly well.
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