The decision by St. Paul Travelers to end payment of contingent commissions is only the beginning of a movement that will eventually see the end of the practice throughout the industry, Connecticut's attorney general said.
The comment from Richard Blumenthal came in a statement noting that St. Paul Travelers plans to cease paying contingent commissions for all lines of business by 2008.
In an agreement made last year between the company with then New York Attorney General Eliot Spitzer, Mr. Blumenthal, and Illinois Attorney General Lisa Madigan, St. Paul Travelers agreed to end paying contingent commissions on business where 65 percent of the industry did not pay them.
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