Marsh & McLennan Companies Inc. (MMC) said half of all eligible policyholders have elected to participate in an $850 million settlement providing restitution for improper fee charges.
MCC said the majority of those accepting the deal are its largest policyholders.
The New York-based professional services firm said "it has received an excellent response" from eligible policyholders to participate in the compensation fund MMC established as part of its settlement with the New York Attorney General Eliot Spitzer and Superintendent of Insurance Howard Mills in January.
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