Insurance Giant Settles California Investigation

Law360, New York (March 14, 2006, 12:00 AM EST) -- Marsh & McLennan Cos., the globe’s biggest insurance brokerage, has reached a deal with California investigators concerning the company’s controversial commission practices and alleged fraudulent activity.

“This settlement is another step in our effort to clean up this industry and end secret commissions, bid rigging, and other actions that are harmful to consumers,” said California Insurance Commissioner John Garamendi, in a press statement.

At the beginning of last year, Marsh reached a deal with New York Attorney General Eliot Spitzer in which the company agreed to...
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