Impact of Spitzer Broker Fraud Charges Felt at Marsh and Beyond
National News • October 18, 2004
New York Attorney General Eliot Spitzer's filing last Thursday of charges against giant insurance broker Marsh for alleged commercial account steering and bid rigging has already had significant ...
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Subject: RE: Spitzers insurance investigation and chargess
Posted On: October 18, 2004, 1:41 pm CDT
Posted By: Alan
Comment:
Of greatest issue here is the fact that Marsh was actually involved in a criminal bid rigging practice.
The payment of contingent commisions is not illegal and the public should be made aware of that. We need the insurance organizations to speak up and put the public on the right track rather than do nothing about this.
Whe my car dealer gets a bonus for the nubmer of vehicles sold, am I entitled to that? When a large stationary chain gets a bonus for selling more #2 pencils from a certain manufacturer, am I entitled to it?
Business have to make a profit and as long as it is done legally and the consumers are not hurt what is the difference of how it is obtained?
Subject: RE: Spitzers insurance investigation and chargess
The payment of contingent commisions is not illegal and the public should be made aware of that. We need the insurance organizations to speak up and put the public on the right track rather than do nothing about this.
Whe my car dealer gets a bonus for the nubmer of vehicles sold, am I entitled to that? When a large stationary chain gets a bonus for selling more #2 pencils from a certain manufacturer, am I entitled to it?
Business have to make a profit and as long as it is done legally and the consumers are not hurt what is the difference of how it is obtained?