Judge Approves Marsh Settlement Stemming from 2004 Bid …

Feb 20, 2009 · This week a New Jersey federal judge approved a $69 million settlement Marsh & McLennan Cos. Inc. (MMC) reached with a class of policyholders last summer regarding industry practices that were exposed by former New York Attorney General Eliot Spitzer in his 2004 bid …

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Judge Approves Marsh Settlement Stemming From 2004 Bid …

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Marsh Settles Bid Rigging Suit For $88m | Online Only | Strategic …

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Feb 23, 2009 · Lawsuit stems from bid-rigging allegations dating back to 2004 This site, like many others, uses small files called cookies to ensure that we give you the best experience on our …

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Marsh And McLennan Settles 2004 Class Action Suit

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Nov 13, 2009 · Insurance giant Marsh and McLennan, rocked by a bid-rigging scandal five years ago, will pay $435 million to settle two class action suits in the case.

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Marsh & McLennan Settles Insurance Charges - NBC News

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Jan 31, 2005 · The nation’s largest insurance brokerage on Monday agreed to pay $850 million in restitution to end an investigation into bid rigging, price fixing and the use of hidden incentive …

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Judge Approves $88 Million Settlement Of 2005 Bid-Rigging Suit …

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Feb 24, 2009 · Topics. Life Insurance; Annuity News; Health/Employee Benefits; Property & Casualty; Advisor News

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Marsh Pays $400 Million To End Bid-rigging Suit - MarketWatch

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Nov 13, 2009 · Marsh said it will pay $400 million to end a securities class action lawsuit filed in 2004 in the U.S. District Court for the Southern District of New York. Marsh noted that $205 …

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FAQs about Judge Approves Marsh Settlement Stemming from 2004 Bid … Coupon?

Does Marsh pay a contingent commission?

According to the complaint, Marsh has never disclosed to its shareholders how significant contingent commissions are to its business. Citing an analyst conference call on July 28, 2004, the complaint quotes Jeffrey Greenberg, chief executive officer of Marsh, as saying: “We don’t break out contingent commissions. ...

Why did Eliot Spitzer Sue Marsh & McLennan Companies?

New York Attorney General Eliot Spitzer on Oct. 14 sued Marsh & McLennan Companies, the nation’s biggest insurance brokerage firm, alleging that it steered clients to insurers with whom it had lucrative contingency agreements, and solicited rigged bids from major insurers for insurance contracts. ...

Why did Spitzer file a complaint against Marsh Insurance?

Spitzer’s complaint against the company cites internal communications in which executives appear to discuss actions that were aimed at maximizing Marsh’s revenue and insurance companies’ revenues. ...

Is Marsh's business plan 'phenomenally profitable'?

The lawsuit maintains that Marsh’s business plan has been “phenomenally profitable,” citing reports that approximately $800 million of Marsh’s earnings in 2003 were attributable to contingent commission payments. That year, Marsh overall reported approximately $1.5 billion in net income. ...