In our latest "Question Of Ethics" in this week's edition of NU (available online as well), we asked readers to tackle the dicey problem of how to reconcile potential conflicts that inevitably arise these days over any sort of contingency fee agreement. That argument might be moot if all carriers eventually end such bonus arrangements, but I cannot imagine there won't be other incentive compensation plans to take their place, which will raise their own conflict-of-interest issues.
The bottom line is that readers grapple with such potential conflicts by asking themselves the following questions:
Who do you really work for? No one seemed concerned with the problems of dual-agency. Any conflicts that arise, given the state of the law, are resolved by producers in favor of the insured.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
