November 2004/3

Julian Taylor, the Marsh UK employee suspended for allegedly charging unauthorised commissions, has now been dismissed according to the broker.

Florida’s attorney general Charlie Crist became the latest US regulator to open an investigation into alleged bid rigging and insurance commission arrangements last week.

Despite being characterised by Eliot Spitzer as a practice that “rigs bids, stifles competition and cheats customers,” Marsh confirmed last week that it is moving to collect up to $230mn in contingent commissions which it says it is owed by insurers.

While MMC’s Jeffrey Greenberg and his Marsh Inc colleague Ray Groves were the first two casualties of Spitzer’s assault on practices in the P&C industry, they were followed last week by a wave of sackings among the companies implicated in the attorney gen

Aon’s retiring chief executive Patrick Ryan has called upon the insurance industry to implement reform to reclaim the trust of its clients in the wake of New York attorney general Eliot Spitzer’s investigation into alleged price fixing.