Marsh to Scrap Fees Spitzer Faulted
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Marsh & McLennan Cos. MMC.N, the  world's largest insurance broker, on Tuesday said it will  reform and stop accepting fees that New York's attorney general  said amounted to bid-rigging.
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When New York Attorney General Eliot Spitzer accused insurance broker Marsh &amp; McLennan Cos. last month of taking kickbacks from insurers, resulting in higher premiums for clients, he raised questions for the
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The nation's largest insurance brokerage will pay $850 million in restitution to end New York Attorney General Eliot Spitzer's investigation into bid rigging and price fixing in a settlement the company hopes will end other states' probes and private lawsuits.
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A day after coming under regulatory fire for taking incentive fees from insurers, the Marsh & McLennan Companies said that it would halt the practice.
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Embattled insurance broker&#39;s banks agree to waive clause that may have prevented access to credit. NEW YORK  - Marsh &amp; McLennan Cos.
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New York Attorney General Eliot  Spitzer is launching a suit against several prominent  participants in the insurance industry, including AIG and  broker Marsh & McLennan Cos. MMC.N, charging they engaged in  market manipulation, Spitzer's office said.
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A FORMER mentor to Eliot Spitzer replaced Jeffrey Greenberg as chief executive of Marsh &amp; McLennan last night, as the embattled insurance group made its first move towards settling a lawsuit with the New York Attorney-General.
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Insurance broker Marsh &amp; McLennan Cos. said yesterday it is renegotiating terms of $2.8 billion of backup bank financing after New York Attorney General Eliot Spitzer sued the company last week. The move is likely to raise the company's borrowing costs.
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cLennan Cos&quot;/&gt;Marsh &amp; McLennan, which the New York attorney general&#39;s office has accused of bid-rigging and price-fixing, said last night that it was setting up a fund to be used for restitution in any settlement agreement.
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New York Attorney General Eliot Spitzer yesterday sued Marsh &amp; McLennan Cos., alleging the world&#39;s largest insurance broker took payoffs to steer clients to some insurers.
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ALBANY, N.Y. -- A California-based company that brokers life, accident, and disability policies for leading US companies pocketed millions of dollars a year in hidden payments from insurers and from charges on clients' unsuspecting workers, New York Attorney General Eliot Spitzer charged yesterday.
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Embattled Marsh &amp; McLennan Cos. has lost more than a dozen brokers in the past six weeks, since Attorney General Eliot Spitzer charged them with bid-rigging and the stock price fell by 40 percent.
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Marsh & McLennan Cos. MMC.N on   Friday said it will cut 750 jobs and take a $225 million charge   in a restructuring designed to save $350 million a year.
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Marsh &amp; McLennan Companies Inc. is moving to collect about $230 million in controversial contingent commissions owed by insurers and will put the money toward a settlement with the New York Attorney General Eliot Spitzer.
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Marsh and McLennan is looking to collect about $230 million in incentive fees at the heart of a bid-rigging probe. The company says it will put the fees into a separate account to be used as
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The outside directors of Marsh &amp; McLennan (MMC.N: Quote, Profile, Research) have talked to New York&#39;s attorney general about having its chief executive step aside amid a probe into its business practices, the Wall Street Journal said
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SHARES in Marsh &amp; McLennan plunged a further 10 per cent yesterday, taking their total fall to 47 per cent since the insurance broker took centre-stage in an inquiry by the New York attorney-general into market manipulation.