N.Y. Hearing on Marsh Now Set for Feb. 24

January 20, 2005

  • February 2, 2005 at 7:28 am
    Licensing Dude says:
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    From coast to coast the Marsh-bomb fallout has covered the entire insurance industry in a dark cloud of toxic opinions. Worse yet, that toxic cloud lingers as it appears that Marsh will evade disipline by paying off its admitted crimes with its tainted cash and a crafty non-admission of guilt clause.

    For the rest of the insurance industry? Simply glance at the N.A.I.C. resident and non resident agency licensing renewal applications. Upon review of the basic ‘Background Questions’ one finds Marsh’s already admitted conduct raising serious concerns as to qualifying for a renewed license to conduct lawful insurance business in the several United States.

    However, shop talk about this issue seems to end with a number of good, honest insurance professionals shaking their heads because someone laments that Marsh is “too big” to have its license renewal application rejected or revoked by any state. Too big for ethics? Too big to be accountable? Too big to have integrity? Too big to obey laws?

    In that same light however, when talk about every other agency turns to having to meet its obligations to integrity, ethics and compliance, it would be curtains for that agency’s license if that agency pulled a fraction of the stunts Marsh has pulled.

    Small wonder the insurance industry is being hammered into pieces with bad publicity and press.

    Then, to compound the insanity of all of this the government is poised to punish (for all practical purposes) the ‘smaller’ agencies by creating more hoops to jump through while the Marshes of the insurance industry dream up new and improved ways to fly under the hoop.

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