October 26, 2004
Aon Becomes Third Major Broker To Cease Contingent Commissions
Completing a transformation of business practices at the "big three" global insurance brokerages, Aon Corp. is eliminating its practice of accepting contingent commission fees from insurers, the second largest U.S. broker said.
"Because trust and client satisfaction are top priorities for all of us at Aon, we are discontinuing a practice that has created enormous controversy and confusion," said Patrick G. Ryan, chairman and chief executive officer of Aon.
Posted by Tom Troceen