Market still waiting on Spitzer fallout
The full implications of the charges made by Attorney General Eliot Spitzer in New York were unclear...
The full implications of the charges made by Attorney General Eliot Spitzer in New York were unclear as Insurance Age went to press.
Mr Spitzer's accusations go beyond Marsh and McLennan's use of contingent commissions or 'market service agreements' which in themselves have caused concern in US and the UK but are not illegal if they are declared.
The allegation is that these agreements created an 'improper incentive' for Marsh and the broker based decisions in which insurers to use, based on the
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