The chief executive of Catlin Group spoke at a London conference earlier this week. The conference was sponsored by Insurance Day. In London, the brokers and the underwriters they work with have been in a dispute over payments and what some consider, ‘contingent commissions’. Contingent commission is a term to describe payment to an insurance intermediary by the insurer or underwriter based on the profitability (or lower than average loss) of the business the intermediary placed with them. This practice was addressed in the U.S. several years ago; After a…
Read MoreThursday, April 18, 2024
Recent posts
- Leveraging Allstate Drivewise for Safer Driving Amid Rising Accident Rates
- California fire station project on pause because it can’t get property insurance
- California Insurance Commissioner Lara seeks new guidance to overcome state crisis
- Can Insurance Companies Help Fight Global Warming with Incentives?
- Medicaid health insurance coverage is gone for 400k Ohio residents
