Judge Certifies Class Action On Broker Fees
Aon Corp. said it will appeal a ruling by a Chicago judge to give class-action status to a lawsuit alleging that contingent commissions paid by insurers amounted to hidden "kickbacks."
Rick Stone, an attorney for the plaintiffs, said the fees involved were huge totaling $200 million a year and encompassed more than a decade of activity. The fees are under scrutiny by New York Attorney General Eliot Spitzer, who earlier this year subpoenaed Aon and other large brokers for information concerning the practice.
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