Commission disclosure
Broker profits to fall
UK insurance brokers are expecting a drop in profitability over the next three months, research by Pricewaterhouse Coopers and the Confederation of British Industry has shown.
Ceiops member disputes broker independence
Intermediaries that accept commission should be prevented by law from describing themselves as independent, according to a member of the Committee of European Insurance and Occupational Pensions Supervisors.
ILAA poised for official launch next month
The founding members of the Independent Loss Adjusters Association are poised to officially launch the new trade association next month.
Finance raising - IPOS: Lack of activity
Marsh recently predicted an increase in initial public offerings. Amy Ellis looks at what is actually happening and the impact on the wider insurance community.
Interview - Ben Wright: Property boom
Despite the recession, Keelan Westall's head Ben Wright tells Mairi MacDonald the business has ambitious expansion plans.
Commission options: Getting your money's worth
To exist in today's market conditions, brokers must continue to focus on the remuneration they receive from insurers. Jane Bernstein looks at the options.
Keelan Westall to re-launch prestige broker club
The commercial property broker is to re-launch its Prestige Broker Club – a membership proposition for its top performing broker partners
Brown & Brown Q1 profit down 8%
US (re)insurance broker Brown & Brown has reported a quarterly profit that narrowly beat market estimates, helped by low expenses.
Marsh will not accept contingent commissions in US
Marsh & McLennan’s US and Canada unit will not collect controversial contingent commissions in its core broking operations.
Post Europe Q&A - Vanbreda
In the second of a regular focus on European insurance companies and brokers, Post Europe talks to the management of Vanbreda, the Belgium-based broker, which is part of the EOS Risq group.
Biba welcomes NY broker commission stance
The British Insurance Brokers' Association has welcomed the decision by US insurance officials to allow three major brokers to resume accepting contingent commission, bringing legislation more in line with the UK.
Aon strikes agreement on transparency
Under the agreement, Aon is required to provide, in New York and the other 49 states, compensation disclosure to purchasers of insurance contracts that complies at a minimum with New York State Insurance Department regulations and also with the laws of…
Willis, Aon and Marsh reach agreement with NY insurance superintendent
The new agreement specifically recognizes that brokers met its obligations under the 2005 AOD over the last half decade, and ends many of the requirements imposed by the agreement.
Willis reiterates commissions stance
Willis chief executive Joe Plumeri has reaffirmed that the broking giant will not go back on its decision to abolish contingent commission.
Groupama to offer flexible commission on commercial SME business
Groupama is offering a variable commission option to its brokers across the whole of its commercial product range.
FSA warns brokers of "intrusive" supervision
The Financial Services Authority has made the handling of client money its "number one" target in its supervision of insurance brokers in 2010, according to the British Insurance Brokers' Association.
Post Magazine 7 January 2010
This issue featured an interview with new Aviva boss Mark Hodges; a look at claims representation at board level; solvency 2; contingent commissions; damage management; the Floods Bill; Auditor liability and all the latest news and views from the general…
Keep schtum
Rachel Gordon looks into contingent commissions, questions why so many brokers and insurers refuse to explain their strategies, and queries whether the Financial Services Authority's stance is strong enough.
An agent for change
One of the early champions of the managing general agent approach at Oxygen, Sian Fisher is taking the model to new territory. She talks to Mairi MacDonald about overcoming the suspicion of insurers and bringing in SME business.
Plumeri vows Willis will never take contingent commissions again
CEO says that it will not take them, even if its rivals do.
All hands on decks: making music at Oxygen
Nigel Barton, chief executive of Oxygen Holdings, talks to Jonathan Swift about his love of dance music, the perils of starting up a broker from scratch, lack of insurer support, blind alleys taken and the successes he has achieved in the market.
Peninsula set to double broker division
Head of partnerships Le Roux says firm will bring in 20 new legal consultants.
Ferma voices concerns over Illinois contigent commission stance.
President in "global village" warning.