European independent insurance and reinsurance broker Heath Lambert Group has introduced a “Broker Insurer Services Commission”, at a flat rate of 1% of premiums.

The introduction of the commission replaces contingent commission payments abandoned by the brokerage last November, and sets a benchmark flat rate figure for the broking sector.

Group CEO Adrian Colosso says the 1% premium is “equitable and transparent” and the company will ensure it adheres to disclosure requirements by letting all clients know about it in writing.