National News
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ERC's Internal Investigation Turns Up 'Isolated' Bid Rigging
National News • November 24, 2004
A five-week internal investigation at Kansas City, Mo.-based commercial-lines carrier Employers Reinsurance Corp. has so far uncovered "isolated instances" of bids inflated at the request of Marsh ...
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| Subject | Posted By | Posted On |
|---|---|---|
| RE: RE: Bid Rigging Cathy Speis | John | Aug 7, 2005, 10:54 pm |
| RE: Bid Rigging | Darrell Wells | Nov 29, 2004, 3:26 pm |
| RE: Bid-Rigging | Karen | Nov 29, 2004, 3:26 pm |
| Bid-Rigging | Don Olson | Nov 29, 2004, 3:00 pm |
| RE: RE: Bid Rigging | Karen | Nov 29, 2004, 2:02 pm |
| RE: Bid Rigging | don olson | Nov 29, 2004, 1:38 pm |
| RE: RE: RE: RE: Bid Rigging | Wild/Wooly Insurance World | Nov 29, 2004, 4:23 am |
| RE: RE: RE: Bid Rigging | Pam | Nov 24, 2004, 1:59 pm |
| RE: Bid Rigging | John Berg | Nov 24, 2004, 1:43 pm |
| RE: RE: Bid Rigging | Micki Jordan | Nov 24, 2004, 1:29 pm |
| RE: RE: Bid Rigging | Jim Howse | Nov 24, 2004, 1:24 pm |
| RE: Bid Rigging | Cathy Speis | Nov 24, 2004, 1:15 pm |
| Bid Rigging | Jim Howse | Nov 24, 2004, 12:40 pm |
| Back to article | ||
Subject: RE: Bid Rigging
Getting caught at bid rigging has done serious damage to Marsh's reputation, perhaps rightly so.
Trust needs to be earned. In insurance it is done via competition with others. Most do it annually by bidding, some only every three years. Some may abuse the trust placed in them with statements like, "no need to involve other brokers, I'll shop the market for you."
A high bid used to be, "ya, I'll write it, but at my price." We no longer need to worry about bid rigging, multiple brokers will work on everything...as it should be.