Marsh & McLennan (MMC) has agreed to pay $850m to settle the New York attorney general Eliot Spitzer's accusations that it rigged bids and took kickbacks from insurers, it was announced today.
The settlement figure was larger than was originally expected by industry experts.
The money will be used to reimburse brokerage commissions to clients. The payback scheme will take four years to complete, Spitzer said in a statement.
MMC's broker arm Marsh is yet to confirm or deny Spitzer's allegations.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
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.
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.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
