Remember Elliot Spitzer? His “Disclosure” Law is Getting Challenged

Elliot Spitzer – you remember, the NY AG who was client 9 of the Emporers’ Club? He paraded around the country about the ethics of the insurance industry while retaining the services of call-girls.

The issue of Commissions is a nice cheap-shot to take at insurance brokers. Geico and other direct-writing insurance companies like to suggest that their rates are lower because they cut out the middle man.

Those of you who have switched to Park Family Insurance know that we can routinely beat the rates of the direct companies and still give you the up-front and personal service you desire from a broker.

But the obsessive rampage of government against mine and other insurance agents’ ability to make a living and make recommendations is at issue here.

Elliot Spitzer wanted to make all companies print the commissions and any “contingent commissions” (aka company bonuses) in bold type on every policy. Imagine buying a car and having the dealership forced to tell you the salesman’s commission – or buying an appliance? Same deal.

It is ridiculous – any broker will tell you if you ask them.

The linked article is about the latest group joining the lawsuit to gut Elliot Spitzer’s legacy.