Aon In Settlement Talks With|
NY, CT, IL Attorneys General
The Insurance Journal
February 22, 2005
Giant insurance broker Aon is in talks with the attorneys general of Connecticut, New York and Illinois that could potentially lead to settlement of charges related to improper compensation and account placement practices.
Officials at Aon and the office of New York Attorney General Eliot Spitzer confirmed with Insurance Journal that the talks are happening.
Connecticut Attorney General Richard Blumenthal told the Hartford Courant that the talks are "difficult but promising."
The New York Times first reported on the talks today.
Spitzer has already negotiated an $850 million settlement with Marsh & McLennan, the largest insurance broker, bringing to a close a lawsuit accusing the broker of bid-rigging and account steering.
Aon has also been a target for Spitzer and other states' attorneys general and insurance departments. Aon has said its own internal investigation has not revealed any bid-rigging.
© 2005 by Wells Publishing, Inc