Contingency Fee Issues

• August 2005 - View RIMS Policy Statement on Industry Compensation and Placement Practices. More>>  
  
   

• January 7, 2005 - RIMS Testifes Before New York State Assembly
  
  
  Michael Gaona testified before the
• New York State Assembly
• Standing Committee on Insurance,
  along with Eliot Spitzer and Greg Serio. More>> 
  
  
    

• December 7, 2004 - Message from the RIMS President: RIMS Activities on Contingency Fees
  RIMS has taken an active role with federal, state, and regulatory officials to respond to the contingency fee issue on behalf of our members. More>>
  
   

• RIMS Participates in Senate Hearing
  
  On November 16, 2004, RIMS Vice President - External Affairs, Janice Ochenkowski, appeared before the Senate Subcommittee on Financial Management.
  
  Ms. Ochenkowski spoke on behalf of RIMS as she testified to the Senate Committee on Governmental Affairs Subcommittee on Financial Management, the Budget and International Security Oversight hearing on insurance brokerage practices including potential conflicts of interest and adequacy of regulatory framework. More>>
  
  
  
   

• October 22, 2004 - Message from the RIMS President on Industry Compensation and Placement Practices
  RIMS is shocked by the allegations of illegal activities and their effects on our members. We are distressed by the allegations appearing daily and are disappointed in the individuals who have pleaded guilty to wrongdoings. More>>
  
  

• RIMS News Resource
  Find out the latest headlines highlighting Contingency Fee issues. View current and archived articles provided by the Advisen Focus, the online news source featuring the inside story on the insurance industry.
  
   

• RIMS Solution: the RIMS Quality Improvement Process (QIP)
  The RIMS Quality Improvement Process for the Risk Management and Commercial Insurance Industry is designed to assist risk managers and their industry partners clarify and measure general performance expectations. The QIP provides an extensive learning resource on how to maximize industry partner relationships. More>>
   

• FERMA Statement
  The contingent commission issue is not new and various actions have been taken for the last 6 years by Ferma and various European associations to try to bring more transparency. More>>
  
  

• Office of New York State Attorney General Elliot Spitzer Official Press Release
  INVESTIGATION REVEALS WIDESPREAD CORRUPTION IN INSURANCE INDUSTRY
  Leading Brokerage Firm Sued for Fraud and Antitrust Violations; Insurance Company Executives Plead Guilty; Major Insurance Firms Implicated. More>> 
  
  

• Official Complaint As Listed on the Attorney General's Website and Submitted to the Supreme Court of New York County of New York
  The people of the State of New York by Elliot Spitzer, Attorney General of the State of New York, against Marsh & McLennan Companies, Inc., and Marsh, Inc. More>>
  
  

• Office of the New York Attorney General - Recent Settlements
  Willis Settlement - April 8, 2005
  Aon Settlement - March 4, 2005
  Marsh Settlement - January 31, 2005
  
   

• Insurance Superintendent of New York Website
  The Insurance Department is responsible for supervising and regulating all insurance business in New York State. For complete information, please visit  http://www.ins.state.ny.us/.