A UK survey shows that despite recent changes in market practice, insurance buyers still believe there is a need for further action to be taken to improve broker transparency.

The Association of Insurance and Risk Managers (AIRMIC) survey shows more than a third of commercial insurance buyers complain that they are still unable to get the information they require about their broker’s remuneration, while almost two-thirds of risk managers are in favour of brokers being paid only by clients.

Of the buyers who have found disclosure of information adequate, two-thirds say they have to ask for it rather than receiving it automatically.

AIRMIC Chairman Andrew Cornish says the organisation – which set up a task force last November to monitor improvements in the wake of the Spitzer allegations in the US – now believes changes to market practices “do not go far enough”.

“Full disclosure should be an automatic right – a part of the business culture – not something you have to push for,” he said.

Mr Cornish also criticised the continuing practice of brokers charging underwriters for their services as well as clients.