By now, you probably are aware that insurance broker Marsh & McLennan Companies Inc. and Marsh Inc. (collectively Marsh) were sued in New York on Oct. 14 based on allegations of engaging in certain illegal business practices, specifically “bid rigging,” …
Connecticut Attorney General Richard Blumenthal is expanding his investigation into allegations that insurance bids were rigged by examining whether unlawful practices have affected municipalities in the state. In a letter to each of Connecticut’s mayors and first selectmen, Blumenthal last …
New York Attorney General Eliot Spitzer’s filing on Oct. 14 of charges against giant insurance broker Marsh for alleged commercial account steering and bid-rigging has already had significant impact on Marsh and is expected to reach into the insurance brokerage …
Roger Schmelzer The Marsh & McLennan board of directors announced it has accepted the resignation of chairman and chief executive officer Jeffrey W. Greenberg. Stepping in to immediately replace Greenberg is Michael G. Cherkasky, named president and CEO. Cherkasky was …
Chicago-based brokerage giant Aon Corp. announced that it is eliminating its practice of accepting contingent commissions from underwriters. The move most likely is a response to New York Attorney General Eliot Spitzer’s suit against New York-based Marsh for the practice. …
Hurricanes, tornadoes, floods caused a tumultuous summer and shaky fall for the insurance industry, but no one could have predicted the results of Eliot Spitzer’s investigations in New York, which now threaten to spill over into other states. During a …
State insurance commissioners in the southeast and across the United States consulted in a conference call the week after New York Attorney Gen-eral Eliot Spitzer made allegations of rigged bids and price-fixing among commercial brokers and insurance companies. During the …
New York Attorney General Eliot Spitzer’s filing on Oct. 14 of charges against giant insurance broker Marsh for alleged commercial account steering and bid rigging has already had significant impact on Marsh and is expected to reach into the insurance …
By now, you probably are aware that insurance broker Marsh & McLennan Companies Inc. and Marsh Inc. (collectively Marsh) were sued in New York on Oct. 14 based on allegations of engaging in certain illegal business practices, specifically “bid rigging,” …
New York Attorney General Eliot Spitzer’s style of attacking an industry and then settling for money doesn’t sit well with at least one of the country’s insurance commissioners. Lawrence Mirel, insurance commissioner for the District of Columbia, is critical of …
