Complete Text of N.Y. AG’s Complaint Available Online

October 19, 2004

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The complete text of New York Attorney General Eliot Spitzer’s complaint against Marsh & McLennan Companies Inc. and Marsh Inc. can be found online at http://access.adobe.com/perl/convertPDF.pl?url=http://www.oag.state.ny.us/press/2004/oct/oct14a_04_attach1.pdf?OpenElement.

The complaint reveals explicit details of the investigation, including the names of those who are allegedly involved, or could possibly be involved, documents detailing Marsh’s reported illegal activities and much more.

In the complaint, Spitzer alleges that, “In addition to carrots, Marsh also used sticks. The notes of one insurance company executive record that Marsh threatened to ‘kill’ the company if it did not ‘get to [the] right number’ on the contigent commission agreement.”

The complaint further goes on to detail “reward” procedures used as incentives to brokers who “moved” clients to insurers who held contingent agreements. Also detailed is the Greenville County School project, which described Marsh’s attempt to reportedly “secure a contingent commission agreement with an insurance company and rigged the bidding process.”

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Latest Comments

  • October 21, 2004 at 10:19 am
    nyaaa says:
    This issue first apeared in NY in august 98 as CL22 - an opinion that stated brokers should disclose all compensation to clients before presenting a quote. However, small and ... read more
  • October 21, 2004 at 7:36 am
    Independent Agent says:
    Enron doesn't look so bad now. How does one spell D&O - "Policy limits"
  • October 21, 2004 at 7:25 am
    Long Timer says:
    Head of Marsh - Greenberg Head of AIG - Greenberg Head of ACE - Greenberg It's a family affair. The applies don't fall far from the tree.
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