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More problems for Marsh

Marsh Mclennan, the nation's largest broker, has once again been hit by a civil suit charging bid rigging, hidden commissions, and RICO violations. This time the suit has been filed in Florida's Lee County.

According to the St. Petersburg Times, one of the issues deals with hidden commission payments from insurers:

"The suit does allege Marsh contracted with Miami-Dade County to provide coverage for services for a flat fee, but received from insurers an additional $140,000 in hidden commissions."

Marsh has condemned the suit, noting it simply repeats the charges filed by (and not coincidentally settled for $850 million by) NY Attorney General Eliot Spitzer.

Thanks to Helen Knight for the tip.

Posted by on March 16, 2006 9:00 PM |

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