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With Transparency, RMs Put

Like water under the bridge, lingering suspicions between insurance buyers and their brokers following the contingency fee and bid-rigging scandals that tarnished the reputations of some of the

By Caroline McDonald | Updated on October 05, 2008

Like water under the bridge, lingering suspicions between insurance buyers and their brokers following the contingency fee and bid-rigging scandals that tarnished the reputations of some of the industry’s biggest players seem to have dissipated, with risk managers taking advantage of the new transparency in vendor compensation to reassess their brokerage relationships and put together new, individually tailored service packages.

Carolyn Snow, director of insurance risk management with Humana Inc., in Louisville, Ky., and a Risk and Insurance Management Society board member, said her firm does business with one of the large brokerages on a fee basis, which has worked out well.

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