New York Attorney sues Marsh and McLennan
New York Attorney General Eliot Spitzer is suing Marsh & McLennan, alleging that it steered unsuspecting clients to insurers with whom it had payoff agreements, and that the firm solicited rigged bids for insurance contracts. Mr. Spitzer also announced that two executives from AIG have pleaded guilty to criminal charges in connection with the scheme. It is believed they will testify in future cases.
The actions stem from a widening investigation of fraud and anti-competitive practices in the insurance industry. Evidence revealed in the lawsuit also implicates other major insurance carriers - ACEOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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