Marsh Reaches $850M Deal With N.Y. AG Spitzer And Insurance Department

Marsh & McLennan Companies reached an agreement yesterday with the New York State Attorney General and Superintendent of the New York State Insurance Department that will resolve the questionable brokerage compensation and account placement practices that have kept the company in the country spotlight recently. Under the agreement, the company will enact transparency and service reforms for the industry, and establish a $850 million compensation fund for its clients.