Two top insurance brokerages, forced to drop contingency fees after those arrangements were linked to kickback and bid-rigging schemes, are adjusting and thriving, according to a Standard & Poor's report.
S&P has revised the outlook on the Nos. 2 and 3 brokerages - Aon Corp. and Willis Group Holdings Ltd. - to stable from negative.
The report said the revised outlook is "a significant indicator of how the industry is evolving" nearly a year after New York Attorney General Eliot Spitzer surfaced charges of brokerage misdeeds that led both companies drop contingent commissions and agree to reimburse injured customers.
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