Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards

Practice Management > Compensation and Fees

Agent Group Defends Incentive Compensation

Your article was successfully shared with the contacts you provided.

NU Online News Service, Oct. 28, 2004, 3:30 p.m. EDT

Many legitimate business practices of insurance agents are being unfairly criticized in the wake of New York Attorney General Eliot Spitzer’s investigation into alleged illegal bid-rigging, an industry group says.[@@]

The Independent Insurance Agents & Brokers of America, Washington, says insurance agents’ incentive compensation is among the valid practices being mischaracterized.

IIABA notes that incentive compensation programs are used widely in many industries, including insurance, to reward outstanding sales performance.

“To suggest that incentive compensation should be ended because a few bad actors abuse it is like saying we should ban college athletics because some programs may cheat,” says IIABA chief executive officer Robert A. Rusbuldt.


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.