Marsh Cleared to Accept Insurer Fees

August 8, 2007

New York insurance officials and the attorney general’s office have agreed to let big insurance broker Marsh accept some fees from insurance companies for work on processing and servicing of accounts.

The approval comes in an amendment is to a 2005 settlement with then-Attorney General Eliot Spitzer and the insurance department that restricted the fees and commissions Marsh could accept.

The amendemnt was posted to the New York Insurance Department web site on Aug. 7.

The fees could help Marsh regain revenue lost as a result of giving up market service agreements and contingent commissions, which were prohibited by the original 2005 agreement with Spitzer.

Source: New York State Insurance Department

http://www.ins.state.ny.us/invstcomp.htm#mm

Subscribe Insurance news headlines delivered to your email.
Get a free subscription to our popular email newsletter.

Latest Comments

  • August 8, 2007 at 3:35 am
    Howie's friend says:
    Don't worry about what not important said Howie, they work at Marsh.
  • August 8, 2007 at 1:37 am
    Howie Ganorant says:
    No thanks on the offer. And BTW it was lunch 15 minutes at the time.
  • August 8, 2007 at 1:32 am
    Not Important says:
    How about doing some work, and not blogging on Insurance websites all day. I'll sell you a life for a good price.
See all comments

Add a Comment

Your email address will not be published. Required fields are marked *

*

More News
More News Features