ADVFN - Advanced Financial Network.
HOME» NYSE » B » BRO Stock Price » BRO Stock News

Brown & Brown Share News

 Brown & Brown, Inc. Stock Price
BRO Stock Price
 Brown & Brown, Inc. Stock Chart
BRO Stock Chart
 Brown & Brown, Inc. Stock News
BRO Stock News
 Brown & Brown, Inc. Company Information
BRO Company Information
 Brown & Brown, Inc. Stock Trades
BRO Stock Trades

Aon To Take From Insurers Commissions Once Banned Under Spitzer

By Erik Holm Of DOW JONES NEWSWIRES NEW YORK -(Dow Jones)- Aon Corp. (AON), one of the world's leading insurance brokers, said Wednesday it will accept a controversial form of compensation from insurance companies under some circumstances. Aon joins rival Marsh & McLennan Cos. (MMC) in deciding to accept contingent commissions--with some self-imposed restrictions--after New York's insurance regulator allowed the practice earlier this year. The two firms, along with smaller rival Willis Group Holdings Plc (WSH), had been banned from accepting them after former state attorney general Eliot Spitzer mounted a campaign against the payments in 2004. Brokers match the companies that buy insurance with the sellers of the coverage, and since the contingents were banned the three brokers have been paid only by the buyers. Smaller brokers such as Brown & Brown Inc. (BRO) have continued to take the commissions from insurers, which can be linked to factors including how profitable the policy is for the insurance company. Spitzer had argued the contingent payments amounted to secret kickbacks, and the companies agreed to stop accepting them in 2005 in a settlement with the then-New York attorney general that applied worldwide. Under an agreement reached with New York regulators in February, the three leading brokers agreed to disclose the fees to their clients as a condition of the lifting of the ban. But Willis has said it will continue to forgo contingent commissions, and argued that the payments raise the question of whether the broker is acting in the best interest of its clients. Marsh & McLennan said in March its large and middle-market operations in the U.S. and Canadian businesses wouldn't take the payments, but it would accept contingents elsewhere. Aon wasn't as specific in a statement released Wednesday. "We have decided to accept various forms of compensation available, which may include supplemental and/or contingent commissions in the geographies and client segments globally where appropriate and legally permissible," said Steve McGill, chairman and chief executive of Aon Risk Solutions. Alan Devlin, and analyst for Atlantic Equities in London, said in a note to clients that Aon accepted about $200 million of contingents annually "at its peak," while Marsh & McLennan took about $800 million before Spitzer took action against the payments. -By Erik Holm, Dow Jones Newswires; 212-416-2892;

Stock News for Brown & Brown (BRO)
12/02/201617:01:07Statement of Changes in Beneficial Ownership (4)
11/28/201617:13:36Statement of Changes in Beneficial Ownership (4)
11/23/201617:23:48Statement of Changes in Beneficial Ownership (4)
11/18/201617:11:23Securities Registration: Employee Benefit Plan (s-8)
11/18/201617:02:08Post-effective Amendment to an S-8 Filing (s-8 Pos)
11/09/201616:41:22Quarterly Report (10-q)
10/21/201606:01:18Current Report Filing (8-k)
10/12/201617:05:04Current Report Filing (8-k)
09/21/201617:53:57Statement of Changes in Beneficial Ownership (4)
08/05/201617:20:27Quarterly Report (10-q)
07/18/201617:04:24Current Report Filing (8-k)
07/08/201616:51:06Current Report Filing (8-k)
07/01/201608:48:35Statement of Changes in Beneficial Ownership (4)
06/27/201617:02:58Statement of Changes in Beneficial Ownership (4)
06/24/201617:02:18Annual Report of Employee Stock Plans (11-k)
06/22/201607:50:00How Rewarding Investors Believe These Financial's Stocks are?...
06/17/201617:09:03Securities Registration: Employee Benefit Plan (s-8)
05/26/201617:03:44Statement of Changes in Beneficial Ownership (4)
05/06/201617:19:34Quarterly Report (10-q)
05/05/201617:41:20Current Report Filing (8-k)

Brown & Brown and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2016 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations