Marsh to avoid criminal charges
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Giant insurance broker Marsh and McLennan is now expected to escape criminal charges over illegal payments. It has been the subject of legal action over the payments by New Yrok attorney general Eliot Spitzer.
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New York Attorney General Eliot Spitzer has sued Marsh, alleging that the world&#39;s largest insurance broker steered unsuspecting clients to insurers with whom it had lucrative payoff agreements, and that the firm solicited rigged bids for insurance
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Marsh & McLennan Cos. , the world's largest insurance broker, said on Tuesday it would reform its business practices and stop accepting fees at the center of an investigation by New York Attorney General Eliot Spitzer into bid rigging.
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Connecticut's "failure to appear" charge is being challenged, worrying some prosecutors who use the tool extensively.
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The bid-rigging case against Marsh &amp; McLennan Cos. likely will be settled for at least $500 million, the Wall Street Journal reported Thursday.
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NEW YORK  - Marsh and McLennan Companies, Inc. the world&#39;s biggest insurance broker, announced a radical overhaul of its business practices after learning it would not face criminal charges for allegedly deceiving its customers.
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NEW YORK (CNN) -- The captain of the Staten Island Ferry that crashed into a maintenance pier in October, killing 11 people and injuring more than 70 others, will avoid prosecution in an unusual cooperation agreement with federal prosecutors.
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October 29, 2004 - With stock prices falling and a new chief executive at the helm, Marsh &amp; McLennan Cos. may quickly settle a civil suit filed by New York Attorney General Eliot Spitzer, but it may cost $500 million or more.
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The insurance industry buzzed yesterday after learning that its poster child for bad behavior, Marsh &amp; McLennan Cos., is planning to use about $230 million in now-barred
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SAN FRANCISCO (CBS.MW) -- Marsh &amp; McLennan said late Monday that the contingent commissions that the firm suspended late Friday amid a probe by New York&#39;s Attorney General accounted for 7 percent of its total revenue in 2003.
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Company said settlement for bid rigging claim likely this month, but says investigation is ongoing. NEW YORK  - Marsh &amp; McLennan Cos.
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NEW YORK - Today, New York Attorney General Eliot Spitzer will announce that he is filing both criminal and civil lawsuits against Marsh &amp; McLennan, the largest US insurance brokerage firm.
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Marsh &amp; McLennan Cos. (MMC.N: Quote, Profile, Research) , which has been at the center of a bid-rigging scandal rocking the insurance industry, on Tuesday said it will cut 3,000
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Marsh &amp; McLennan Cos., the US insurance broker accused of rigging bids and taking ``payoffs,&#39;&#39; may cut jobs to help mitigate a drop in earnings, investors said.
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Marsh &amp; McLennan Companies Inc., the insurance brokerage giant, is looking to collect about $230 million in incentive fees at the heart of a bid-rigging probe by New York authorities as a way to help fund a possible settlement over the questioned fees.
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Marsh &amp; McLennan Cos. (MMC.N: Quote, Profile, Research) , the insurance broker accused by New York&#39;s Attorney General Eliot Spitzer of bid-rigging fraud, on Thursday said five
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Marsh &amp; McLennan Companies Inc. said Friday it was suspending its practice of using &quot;market services agreements&quot; with insurance carriers, which the New York attorney general has alleged were used to rig bids, cheating customers.