Speaking a year after Mr. Spitzer launched an investigation that forced the four largest brokerage firms in the U.S. to give up contingent commissions, Mr. Brown said the worst is over, but the fallout is far from finished.

The attorney general's investigation has so far led to guilty pleas by 17 insurance executives, including some with the insurance brokerage firm Marsh, and several carriers, on charges they conspired to manipulate the placement of insurance contracts and fix prices in exchange for kickbacks in the form of lucrative volume-based contingent commissions.

Though it has been a year, the investigations, which have grown national in scope, are not over, Mr. Brown warned, adding, "There will be more to come," without elaborating further. He continued, "After this is complete, we will all be better for it."

"It may be one, two, or three years down the road, but it will all work out," he said.

He praised the CIAB for getting out in front of the issue and declaring that disclosure would be best for the industry. The association went further to explain the importance of what brokers do to regulators and elected representatives.

The CIAB also issued notes to brokers concerning what should be available to clients in the way of disclosure, and how brokers should answer questions about the issue.

Also addressing the conference was former U.S. Secretary of State Madeleine K. Albright.

Addressing the issue of renewal of the Terrorism Risk Insurance Act now being debated in Congress, she said that while she is not an expert on the subject, she did understand its importance and the need for renewal.

"I do not know everything [about the program], but I have a pretty good grasp of common sense," she said. "If terrorism is an ongoing issue, should not our government make sure that insurance is there." She added, "Insurance should be there when disaster arise."