Zurich has suspended several employees of its underwriting unit in the specialties business of Zurich North America Commercial, it said today.
The company said it had been examining its relationship with Marsh & McLennan in the wake of the Eliot Spitzer's investigation into the company and the review of “certain business practices” at Zurich “has led to the suspension of several employees”.
Zurich said it has been subpoenaed by the New York attorney general to provide information as part of the industry-wide investigation.
It said: “The Group's business relationship has been built on ethical values, these values do not condone improper behaviour, and Zurich will take action wherever such behaviour has been found.”
