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Aon Flips on Contingent Commissions

Fees criticized as posing a conflict of interest

By staff Writer | Updated on July 26, 2010

Insurance brokerage Aon says it will resume accepting contingent commissions from insurers. The move comes five years after Aon, along with brokerage giants Marsh and Willis Group, agreed to forgo such commissions in a settlement that followed then-New York State Attorney General Eliot Spitzer’s investigation into bid-rigging in the industry.

Earlier this year, state insurance regulators from New York, Illinois and Connecticut gave big brokers the go-ahead to resume collecting such commissions after complaints of unfairness that smaller brokers could still accept the fees. In March, Aon and Willis said they would not accept contingent commissions, while Marsh said its core U.S. brokerage operations would not accept them.

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