Blanc warns on commission disclosure
Peter Blanc, chief executive officer at Oval, has warned that brokers should expect full transparency on commissions within five years.
"We are probably on a five-year time frame before we end up with full transparency in insurance broking. It is coming and we can't kid ourselves that it is not, it almost certainly is," he stated.
The warning came at the Oval Leaders Conference 2012 in Leeds last week. At the event Mr Blanc compared the situation between the financial services and insurance broking divisions of the company.
Under the Retail Distribution Review financial services are faced with the upfront agreement of fees as of
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