Commission stance sees insurers shy away from Towergate vehicle

A new wholesale broking vehicle from Towergate could suffer as a result of the growing reluctance of insurers to bow to high commission demands.

PowerPlace Insurance Services, an online commercial trading platform powered by Open GI's Open Trader software, has been in pilot for a year and is due to launch at the end of 2008. However, Insurance Age has learnt that certain insurers have baulked at the commissions demanded by the broker - reported to be in excess of 40%.

"Insurers are being asked to

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