Producer groups defend contingency fees: Marsh seeks millions in fees from carriers to use in potential lawsuit settlement.(The news: top stories of the week)

National Underwriter Property & Casualty-Risk & Benefits Management,  November, 2004  by Ruquet, Mark E.

Tags: Eliot Spitzer, insurance, Marsh & McLennan Companies Inc.

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WHILE CONDEMNING ANY illegal of unethical activities of "a few bad actors," leaders of the two top national producer associations are speaking out in defense of the contingency fee sys tem as a way to compensate insurance agents and brokers adequately for services to clients and insurers.

The Council of Insurance Agents & Brokers and the Independent Insurance Agents & Brokers of America defended the legitimacy of compensation programs that they say benefit producers, buyers and carriers. "As the initial shock of New York Attorney General Eliot Spitzer's ...

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