May 9, 2005 by Canadian Underwriter
Reinsurance brokerage group Guy Carpenter & Co. Inc. says it will now offer disclosure on compensation arrangements applying to the placement of facultative business globally. The brokerage introduced its "Global Disclosure Doctrine" in December of last year, which outlines the company’s remuneration arrangements on reinsurance treaty placements.
Despite the increased complexity involved with facultative reinsurance-type business, as well as regional differences, Guy Carpenter says inclusion of these arrangements under its global disclosure doctrine was necessary to establish a complete worldwide policy. "Trust is an issue of fairness, not geography," a statement notes. "By extending the policy to include facultative placements, the company has now implemented a single ‘Global Disclosure Doctrine’ that addresses all reinsurance placed by the company throughout the world.