Chicago-based insurance broker Aon said a sizable number of clients have accepted its settlement offering of compensation over claims the firm improperly steered them to insurers who made undisclosed fee arrangements.
Al Orendorff, director of public relations for Aon, said that 74 percent of the $190 million, or about $140 million, is expected to be paid out to clients on the terms of the agreement reached earlier this year with New York Attorney General Eliot Spitzer.
Mr. Orendorff said the firm is still calculating the actual number of clients who have accepted the agreement. No firm figure of the actual number of clients is available because some clients received more than one settlement notice based on their insurance placements.
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