Only US commercial lines will refuse contingent commission
Marsh has confirmed it will not accept contingent commissions on any placements for any US clients served by the firm’s core broking operations but its personal lines and sponsored arms will take the payments.
“Marsh & McLennan Agency LLC and Marsh Consumer’s affinity, sponsored program and personal lines businesses will accept contingent commissions,” the firm said.
“For these segments, the firm will provide plain language disclosure that meets or exceeds New York's Regulation No. 194, as well as all other applicable legal and regulatory requirements.
Transparency
“Marsh will continue to collect enhanced commissions and fees for services from insurers with respect to its core broking operations.
“These forms of compensation, which are paid in consideration of Marsh's provision of specific services to insurers, are fixed in advance of insurance transactions and are not related to volume, retention, growth or profitability.
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