Brokers that keep their commission structure "hidden" will be reported to the FSA by Airmic, in a bid to increase transparency across the market.
Speaking at the Airmic conference this week, chairman Andrew Cornish said that if commissions continued to remain hidden or undisclosed then the association would have to lobby the FSA to intervene.
In an Airmic task force survey on broker renumeration, 76% of buyers have arrangements whereby they only pay fees for services provided by brokers rather than commissions, or are planning to do so.
Cornish said the Airmic membership wanted straight fees not commissions in the long-term.
The survey found that nearly two-thirds of commercial insurance buyers believe that brokers should receive no payment at all from underwriters.
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