Marsh & McLennan has informed eligible policyholders that they can now collect from the company's...
Marsh & McLennan has informed eligible policyholders that they can now collect from the company's $850m (£467m) client restitution fund, as agreed with Eliot Spitzer.
According to a spokesman for Marsh, letters detailing potential restitution amounts were sent on 20 May to 135,000 clients in the US that qualify for reimbursement.
In January Marsh agreed to compensate affected policyholders an aggregate $850m (£467m) to settle Spitzer's charges of fraud and bid rigging related to the collection of contingent commissions.
Clients now have until 20 September to decide whether they will participate in the settlement. Choosing to participate in the settlement bars policyholders from pursuing individual claims against the broker.
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