A Practical guide to insurance broker compensation and potential conflicts of interest for the risk manager
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<subfield code="a">A Practical guide to insurance broker compensation and potential conflicts of interest for the risk manager</subfield>
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<subfield code="a">The purpose of this document is to provide guidance to the risk manager on understanding insurance broker compensation and identifying potential conflicts of interest. Recognizing that the risk manager cannot regulate the conduct of the insurance broker or require consensus among intermediaries on standards of conduct, the risk manager can and should make conflicts of interest, disclosure, and transparency key criteria in the broker selection process and integral to every service level agreement. While other financial service sectors seek to avoid even the appearance of potential conflicts of interest, in commercial insurance, the risk manager must unfortunately seek to identify and assess the materiality of the conflicts of interest that areindustry practice</subfield>
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