Marsh has been accused of price fixing and consumer fraud by Massachusetts trial lawyer Robert Bonsignore, reports said today.

Bonsignore is preparing to file a class action suit in US district court against Ace, AIG, MetLife and Hartford Financial Services for allegedly paying kickbacks for business to Marsh, reports said.

Bonsignore told reporters he could not yet put a price tag on the damages to consumers if the case is certified but the suit could be "huge."

According to reports Bonsignore accused the US industry leaders of claiming a "litigation crisis" and blaming victims of accidents and malpractice when in fact "they were the ones harming consumers and causing rates to go up through unscrupulous deals".

"Insurance is not corrupt," he reportedly said. "It's the people who have been making these deals that have to go. There needs to be a cleaning out of the executives."