Insurance Industry Under Fire Over Bid-Rigging And Contingent Commissions - Finance and Banking

Jorden Burt LLP

United States: Insurance Industry Under Fire Over Bid-Rigging And Contingent Commissions

28 October 2004

Article by Angela R. Thompson

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Marsh & McLennan Cos., the world’s largest insurance broker, has been sued by New York Attorney General Eliot Spitzer based on allegations that Marsh steered clients to favored insurance companies and worked with major insurers to rig the bidding process for property-casualty insurance coverage. The civil complaint alleges that Marsh cut deals with insurers such as American International Group Inc., Ace Ltd. and others....

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