Case Details

Year Initiated/Committed

2004

Year Resolved

2005

Settlement Amount

$850 million

Court

Supreme Court of the State of New York, County of New York

Docket Number

4403342

Lead State

NY

Participating States

NY

Defendant(s)

Marsh & McLennan Companies, Inc., Marsh Inc. and their subsidiaries and affiliates

Case Description

Defendant company is an insurance brokerage firm. The State alleged that Defendant Marsh unlawfully deceived clients by steering clients’ insurance business to favored insurance companies, and soliciting fictitious bids to assure that insurance policies were placed to benefit insurers. Under the settlement agreement, Marsh will pay $850 million into a fund from which policyholders will be compensated. Further, Marsh will institute business reforms and have full disclosure so that all parties will know who is paying what, and to whom when purchasing insurance.