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 Attorney General Richard Blumenthal predicted last week.
The comment came in a statement noting that St. Paul Travelers plans to stop paying contingent commissions for all lines by 2008.
In an agreement made last year between the company and then-New York Attorney General Eliot Spitzer, Mr. Blumenthal and Illinois Attorney General Lisa Madigan, St. Paul Travelers agreed to end the payment of contingency fees on business where 65 percent of the industry did not pay them.
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