Marsh Hearing Postponed Again
A hearing by New Yorks insurance department to possibly revoke the license of mega-broker Marsh has been postponed for a second time in deference to the probe by New York Attorney General Eliot Spitzer into industry practices.
The action came as a report was published that Marshs parent, Marsh & McLennan Companies, could be close to settling a civil suit by Mr. Spitzers office that accuses the broker of rigging bids in a price-fixing scheme with major insurers to secure lucrative contingency fees.
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