Marsh has announced it will not accept controversial contingent commissions in its U.S. core insurance broking segment. The brokerage firm said it would refuse contingent commissions on any placements for any U.S. core broking operation clients, and will continue to provide detailed disclosure information on transactions, including all quotes received and compensation information.

However, Marsh & McLennan Agency LLC and Marsh Consumer’s affinity sponsored program and personal lines businesses will accept contingent commissions. For these segments, the firm said it will provide plain language disclosure that meets or exceeds the New York Insurance Department’s disclosure Regulation No. 194, as well as all other applicable legal and regulatory requirements.

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.