St Paul Travelers was the beneficiary of alleged bid-rigging by Marsh, court documents released after the guilty plea by Marsh senior vice-president Robert Stearns said.
The court papers disclosed an e-mail exchange in which Stearns instructed Marsh broker April Greenwood to solicit a phony bid of $325,000 from Zurich Financial in a move designed to encourage a Marsh client to opt for cover from St Paul Cos, which had submitted a quote of $270,000.
Zurich submitted a quote of $360,000 a day after the Marsh e-mails.
Stearns entered his guilty plea under the bid-rigging and fraud lawsuit filed against Marsh in October by New York attorney general Eliot Spitzer.
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.
