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An actuary is a business professional who analyzes the financial consequences of risk.

Friday, October 22, 2004

Brokers to stop accepting incentive commissions

A major insurance brokerage, Willis Group Holdings Inc., announced that it will stop accepting contingency commissions, the fees that are at the centre of an investigation announced last week by New York Attorney General Eliot Spitzer.

Aon, the second-biggest insurance broker, is the latest to announce it will stop taking incentive commissions - the fees that are at the heart of New York attorney-general Eliot Spitzer’s investigations into the insurance industry.
Posted by ALD at 10:12 PM

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ALD
I'm a veteran of two careers - high school math and physics teacher, retirement consulting actuary - who is now enjoying the pleasure of staying at home for my daughter. (My avatar is in honor of Will Durant, whom I consider the last true sage.)
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      • Spitzer & Cherkasky
      • SOA Exam 5
      • New Marsh & McLennan CEO
      • SOA Education Redesign
      • MMC CEO not to step down?
      • Brokers to stop accepting incentive commissions
      • MMC CEO to step down?
      • Anniversary
      • Tumble in insurance sector continues
      • Taking 401(k) Distributions
      • Marsh axes brokerage head, Appoints Cherkasky (Kro...
      • Two AIG Executives Guilty
      • More on the Spitzer probe
      • NY Attorney General Complaint
      • Insurers' Stocks Plunge on Spitzer Probe
      • PBGC Deficit Could Double
      • 401(k) Participation Rate Slips
      • My work history
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      • First blog post