The right thing

Prebble, Ashley
April 2005
Lawyer;4/18/2005, Vol. 19 Issue 15, p22
Trade Publication
The article focuses on business practices in the insurance industry. The complaint against Marsh & McLennan filed by New York Attorney General Eliot Spitzer in October last year turned the spotlight on insurance industry. It opened the door to a wide-ranging review of the global and Great Britain insurance markets, with the aim of modernising the insurance industry, increasing transparency and promoting competition. The Spitzer charges also focused on the conflicts of interest inherent in the payment of "contingency commissions' the practice of insurers paying higher fees and commissions to brokers based on the volume and/or the profitability of the business.


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