Now that companies will have gone through at least one insurance renewal since broker remuneration became such a contentious issue, AIRMIC would like members to share their experience, says chairman Peter Berring.
"We still need to see clarity on the issue of contingent revenue," he comments. "It has certainly not gone away." He urges members to remain focused on making sure that they get total transparency from their brokers and attempt, wherever possible, to eliminate contingent revenue.
Another aspect of market practice where AIRMIC continues to work behind the scenes is on contract certainty. AIRMIC supports the requirement by the Financial Services Authority that, by the end of 2006, 85% of insurance policies are issued on time. Again, AIRMIC is asking for members' experiences.
"We want to hear the successes and stumbling blocks," says Berring.
