New York attorney general Eliot Spitzer said he will not bring criminal charges against the world's largest broker Marsh & McLennan.
A series of reforms were announced by the company's chief executive Michael Cherkasky, who replaced Jeffrey Greenberg on Monday.
In a statement Spitzer said: "We are persuaded that the goals that would have been advanced by a criminal prosecution of the corporation will be better accomplished by criminal prosecution of individuals, adoption by the
company of dramatically new business procedures, installation of new leadership, a full examination of prior wrongdoing and a pledge of restitution to those harmed."
"Realising these goals, while also allowing Marsh & McLennan to retain a viable role in the marketplace, makes corporate criminal prosecution unnecessary."
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
