Giant insurance broker Aon is in talks with the attorneys general of Connecticut, New York and Illinois that could potentially lead to settlement of charges related to improper compensation and account placement practices.
Officials at Aon and the office of New York Attorney General Eliot Spitzer confirmed with Insurance Journal that the talks are happening.
Connecticut Attorney General Richard Blumenthal told the Hartford Courant that the talks are “difficult but promising.”
The New York Times first reported on the talks today.
Spitzer has already negotiated an $850 million settlement with Marsh & McLennan, the largest insurance broker, bringing to a close a lawsuit accusing the broker of bid-rigging and account steering.
Aon has also been a target for Spitzer and other states’ attorneys general and insurance departments. Aon has said its own internal investigation has not revealed any bid-rigging.
Topics New York Illinois Aon Connecticut
Was this article valuable?
Here are more articles you may enjoy.
D&O Market Expected to Tighten Under Pressure, Says AM Best 
DeSantis Plan to Cut Florida Property Taxes Heads to Ballot—With Schools Removed 
Georgia Brokers and Agents Alarmed After Court Ruling Expands Liability for Them 
Hedge Funds Are Expanding Desks Designed to Profit From Natural-Catastrophe Risk 
