Marsh & McLennan's general counsel William Rosoff is set to become the latest casualty of Eliot Spitzer's investigation into the world's leading insurance broker, according to a report from The Wall Street Journal.
Rosoff, apparently the ‘point man' for contacts with New York Attorney General, is going to resign next week, according to unnamed sources quoted in the WSJ. Spitzer is said to have been frustrated by Rosoff's attempts to prove that brokers at Marsh were not aware of the amounts of money involved in their contingent commission arrangements with insurers. However, Rosoff himself is not accused of wrongdoing.
Spitzer is alleging that Marsh fixed the prices of policies sold to risk managers in order to gain the most favourable rates of commission. His ongoing investigations have already resulted in the resignation of Marsh boss Jeffrey Greenberg at the end of October and the dismissal of four executives this week.
