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Agent Groups Defend Voluntary Disclosure In Producer Compensation Controversy

We must provide some clarity and focus around comments made by Terry Fleming, president of the Risk and Insurance Management Society.

By Bob Rusbuldt, Dick Poppa | Updated on September 19, 2010

We must provide some clarity and focus around comments made by Terry Fleming, president of the Risk and Insurance Management Society, in his “Final Say” in NU‘s Sept. 6 edition, regarding both the compensation of insurance producers and the disclosure of this compensation.

First, Mr. Fleming’s comments (available at http://bit.ly/adxFLp) would lead a reader to believe that all insurance transactions are the same.

Anyone familiar with the insurance industry knows there are significant differences between large, complex exposures and the sale of a mono-line auto insurance policy, as there are significant differences between the sale of a standard term life insurance policy and a complicated group medical insurance policy.

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