I’ve taken a hammering over my Oct. 10 blog entry–repurposed as my Oct. 20 NU editorial column, “The Party’s Over”–in which I not only slammed AIG for taking top producers on junkets right after getting a federal bailout loan, but challenged the use of such incentive compensation itself. I suggested this at least created the potential for a conflict of interest by tempting agents and brokers to place business with a particular carrier because they might win a fancy trip, rather than putting the best interest of the client first. However, one question I repeatedly posed has yet to prompt a response: If trips to posh resorts do not convince producers to move more business to the sponsoring insurer, why do carriers pay millions to host them?

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?


NOT FOR REPRINT

© 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.

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2024 ALM Global, LLC. All Rights Reserved.