On July 20, the AMF launched a consultation on incentive-related conflict-of-interest risks. In response, the RCCAQ submitted a position paper entitled "For fair remuneration of brokers serving consumers". Here are the main points we raised about an issue that directly affects your firm's revenues.

Giving back control to brokers

Profit sharing programs (PSPs) should not be done away with altogether. However, they should be redefined as programs that recognize effective risk selection; they should not provide incentives to do more business with a given insurer.

Maintaining PSPs without incentives

The RCCAQ believes that it is important for PSPs to be maintained in some form since they are an essential revenue source for brokerage firms. However, business growth and maintenance criteria should be eliminated. An in-depth article setting out our position will be featured in the next issue of Liaison + magazine.