Talk about playing right into your competitor's hands! Last week Aon announced plans to start taking contingent commissions once again, right after one of its biggest rivals—Willis Group—blasted the controversial practice and reiterated it would never again accept volume- or profitability-based bonuses.
As reported this week in National Underwriter (http://bit.ly/agTZe1), Aon said it is exploring "various forms of alternative remuneration available."
Steve McGill, CEO of Aon Risk Solutions, said his brokerage—while still committed to transparency—"conducted a great deal of research around broker compensation," with the aim of competing "on a level playing field…As a result, we have decided to accept various forms of compensation available, which may include supplemental and/or contingent commissions in the geographies and client segments globally where appropriate and legally permissible."
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