How much is Willis really passing up in refusing new contingents?
Despite the controversy the consensus seems to be that contingents will be a shadow of what they were, because global brokers have found alternative methods to extract revenues from the (re)insurance transaction and both clients and markets are resistant to their widespread use.
Contingent commissions are effectively payments for distribution
made by insurers to brokers, which are typically tied to levels of
business or profitability.
Five years ago, brokers - most notoriously Marsh - relied on them
for up to...
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