Contingent Fees Undermine Integrity Of Insurance Placement

The contention by Bob Rusbuldt in the "Final Say" column of NU's August 9 edition that there's nothing wrong with contingent fees is not true. Rusbuldt's statement is faulty on two counts. First, premium volume was and always will be the insurance agent's first priority...

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Bibliographic Details
Published inNational Underwriter. P & C Vol. 114; no. 32; p. 36
Main Author Riggin, Donald J
Format Trade Publication Article
LanguageEnglish
Published Erlanger ALM Media Properties, LLC 20.09.2010
Subjects
Contingent fees
Insurance agents & brokers
Insurance premiums
United States > US
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Summary:The contention by Bob Rusbuldt in the "Final Say" column of NU's August 9 edition that there's nothing wrong with contingent fees is not true. Rusbuldt's statement is faulty on two counts. First, premium volume was and always will be the insurance agent's first priority -- contingent commissions. Any successful agent or broker who says otherwise is lying. Second, his assertion that insurance agents would be forced to choose between making money and servicing the client is a non-sequitur.
ISSN:2326-8670