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English to Chinese translations [PRO] Bus/Financial - Insurance
English term or phrase:place
In their defence, brokers say these arrangements are disclosed to clients, and that, with adequate disclosure, the system can work. Yet disclosure is often vague, at best, and the potential conflicts are glaring. Indeed, Mr Spitzer has revealed what amounts to gross abuse of the pricing system. Insurers have been offering incentives to brokers in the form of so-called “contingent commissions”—money paid only if the broker places a certain amount of business with a particular insurer.