Gallagher Sets Settlement Fund
The head of Arthur J. Gallagher & Company said while the insurance broker has reserved $35 million for settlement and litigation costs related to improper contingent fee activity, the firm has no idea when a settlement will be reached.
Discussing its first-quarter results, the Itasca, Ill.-based broker said it was putting aside $35 million based on a formula it believes was used by authorities to reach settlements after investigating three large brokerages–Marsh, Aon and Willis.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
- Educational webcasts, resources from industry leaders, and informative newsletters.
- Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
