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Buyers Seek 'Pot Of Money' From Insurers

Industry representatives, mainly brokers, evaded the question of why buyers haven't seen cost reductions for their insurance policies now that carriers are not paying contingency fees to many brokers

By Caroline McDonald | Updated on April 30, 2006

Industry representatives, mainly brokers, evaded the question of why buyers haven’t seen cost reductions for their insurance policies now that carriers are not paying contingency fees to many brokers at a risk manager’s conference last week.

Ellen Vinck, RIMS president and vice president, risk management & benefits with BAE Systems Ship Repair, in San Diego, raised the question at a leadership panel at the annual Risk and Insurance Management Society conference here last week.

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