Biba 2011: Contingent Commissions not a “big deal” for Aon
Aon president Greg Case has stressed the issue of contingent commissions in the US were never a major issue as the broker instead focuses on “transparency” it offers its clients.
Mr Case said the contentious issue was not a major focus for the broker, despite the decision of New York regulators in February 2010 to lift the ban, and the firm's admission it would consider taking such payments once more.
The broker announced in July 2010 that it was exploring "alternative remuneration" available to it - which may include supplemental or contingent commissions.
However, responding to a question following his keynote speech at the Biba 2011 conference, Mr Case downplayed the
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Broker
MGAs build confidence in a complex non-standard risk market
In a roundtable hosted by Geo Underwriting at Broker Expo 2024, industry professionals explored the challenges brokers face in placing non-standard risks. This article examines the key themes that emerged from that discussion.
Sicsic FOI uncovers insurance firms’ £2.7m S166 bill
Insurers and insurance intermediaries paid a total of £2.7m for Financial Conduct Authority-commissioned skilled persons reviews in the financial year 2023/24, according to a Freedom of Information request by Sicsic Advisory.
JMG expands into North Wales with Anchor buy
JMG Group company, Butterworth Spengler Insurance Brokers, has bought Anchor Insurance, growing its presence into North Wales.
Lycetts buys broker Cheviot
Lycetts has strengthened its presence in the North East, purchasing fellow Newcastle-based broker Cheviot Insurance Services.
Close Brothers to launch digital commission disclosure consent solution
Close Brothers Premium Finance has announced plans to launch a new digital solution to help brokers fulfill their commission disclosure consent obligations.
Flood Re promises more educational material for brokers in 2025
Flood Re is developing a series of new learning and educational materials for brokers and the wider insurance market for the new year, after recent changes to the scheme.
Simply Business names Julie Fisher as permanent UK CEO
Simply Business has appointed Julie Fisher as UK CEO having held the role on an interim basis.
Biba unveils ‘A New Era’ as 2025 conference theme
The British Insurance Brokers’ Association has revealed that ‘A New Era’ will be the theme for its 2025 conference to be held on 14 and 15 May in Manchester.