Gallagher Sees No Benefit From Fee Scandal
The bid-rigging scandal that has rocked the commercial insurance industry and its largest competitor, Marsh, has not benefited middle-market broker Arthur J. Gallagher with significant new business, but Marsh buyers are investigating alternatives, the firm revealed.
J. Patrick Gallagher, president and chief executive officer of the Itasca, Ill.-based broker, said the firm has not picked up new business as a result of the contingency fee and bid-rigging scandal, stemming from allegations by New York Attorney General Eliot Spitzer and others. He added that middle-market customers are not showing much concern over the issue.
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