Byline: SARAH VEYSEY
LONDON-The head of the U.K. insurance regulator has once again called on risk managers to push their brokers for greater disclosure of commissions they earn, and said that the regulator is increasingly open to the idea of mandating such disclosure if the market can't improve the situation on its own.
In a speech to insurance professionals last week, John Tiner, chief executive of the London-based Financial Services Authority, said the market was "light-years'' away from finding its own solution to the question of full transparency.
And he said that while the FSA had been reluctant to impose mandatory disclosure of broker earnings, because it feels that such a rule would not necessarily resolve potential conflicts of interest, he was unsure that a market-led solution drawn up between insurers …
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