The charging of contingent commissions as part of placement service agreements (PSAs) between brokers and insurance carriers was "wrong, very wrong," according to D&F underwriting doyen Les Rock.
Rock argued that former New York attorney general Eliot Spitzer had "done a good job to expose bad practices in the insurance broking world" with his 2004-2005 crusade against bid-rigging, contingent commissions and other alleged conflicts of interests.
Speaking at the Inside FAC Forum in London today (24 May), the former Lloyd...
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