New York–Insurance executives said they believe contingent fees will remain part of the independent agent compensation package, and companies would have to develop an alternative reimbursement if legislators outlawed them.
The comments concerning the controversial fees, that have been the focus of regulatory scrutiny, were made Saturday in New York at the annual conference of the Independent Insurance Agents & Brokers of America based in Alexandria, Va.
Their remarks were delivered during a panel at the Young Agents Conference, held in conjunction with IIABA's meeting.
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