I’ve been in the brokerage business since 1969 and worked for the 4 largest firms in the world,and never once have I been asked or requested to place a piece of business with any underwriter wherein it would enhance the contingency fees for the firm. It has never even been memtioned to me in all these years, much less a practice.
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READERS MAY WISH TO REFERENCE THE NEW YORK STATE INSURANCE DEPARTMENT CIRCULAR LETTER 22 ISSUED IN 1998 – http://www.ins.state.ny.us/cl98_22.htm.
I’ve been in the brokerage business since 1969 and worked for the 4 largest firms in the world,and never once have I been asked or requested to place a piece of business with any underwriter wherein it would enhance the contingency fees for the firm. It has never even been memtioned to me in all these years, much less a practice.