Brown & Brown Inc
BRO: XNYS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$21.35 | Jvm | — |
Regulatory Sunlight for Insurance Brokers
News comes today that the largest publicly traded insurance brokerage organizations--Marsh & McLennan Companies MMC, Aon AON, and Willis Group WSH--have reached "restated agreements" with various state regulatory authorities allowing them to take contingent commissions, a practice that had been banned since 2005. This news follows on the heels of Arthur J. Gallagher's AJG 2009 agreement winning over Illinois authorities to that position. We've been expecting some rationalization of regulatory practice along these lines.