Regulators Settle With Marsh & McLennan
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More than 30 state insurance regulators working through the National Assn. of Insurance Commissioners announced a settlement with the largest U.S. insurance broker, Marsh & McLennan Cos.
The pact adopts Marsh’s agreement in January to pay its clients $850 million in restitution to resolve allegations of fraud and anti-competitive practices leveled by New York Atty. Gen. Eliot Spitzer and New York State Insurance Superintendent Howard Mills in their probe of suspected bid rigging.
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