CHICAGO (Dow Jones) ? One week after industry-leading insurance broker Marsh & McLennan Cos. said the restrictions it faced on accepting contingent commissions had been loosened, rival Willis Group Holdings Ltd. said it has received a similar deal from the New York Attorney General and the Insurance Department of New York.

Willis, the third-largest insurance broker, said the agreement will modify its April, 2005 agreement with the Attorney General of New York and insurance regulators that spelled out how it could be compensated.

The amendment will allow it to receive contingent commissions in situations where it acts as a managing general agent for its customer. Contingent commissions are based on how much business or profit a broker brings to an insurer.

Bermuda-registered Willis and other brokers gave up contingent commissions after an industry-wide investigation into insurance-brokerage compensation that resulted in allegations of bid-rigging and price-fixing by Marsh.

To settle the cases, Marsh paid $850 million in settlements. Second-largest broker Aon Corp. paid $180 million, and Willis paid $50 million to resolve the investigations.

?We?ve always received even treatment from the Attorney General?s Office; we expected this determination and are pleased with this amendment to our (agreement),? said Joe Plumeri, Willis Group Chairman and CEO. ?When working as an MGA, we represent the interests of an insurance company so this change to the AOD is consistent with our position of being paid by our client. It also reaffirms our commitment to full transparency ? such that there are no questions as to who we represent.?