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Industry Commitment to Website Consumer Disclosure
Property and casualty (P&C) primary insurers, that is, those companies which
have a direct contractual relationship with the final consumer, commit to
making the following information regarding their links to insurance
intermediaries easily accessible on their company websites:
- Compensation to insurance intermediaries insurers will explain the
applicable elements of their compensation to intermediaries; including
whether salary is paid, the range of basic commissions paid, and the
range of contingent commissions.
- Ownership and other financing links to intermediaries insurers will
provide information on the kinds of financing and ownership links they
may have with insurance intermediaries; including direct and indirect
ownership, their being owned by a company that also owns insurance
brokerages, and loans and credit facilities.
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