Aon Corp. said it has obtained a green light from five government agencies in three states to amend its settlement agreement so that the brokerage could accept contingent commissions on its managing general agency business.
The Chicago-based broker said late yesterday it had entered into the amendment agreement with the attorneys general of New York, Illinois and Connecticut as well as the insurance departments of New York and Illinois.
National Underwriter reported on Wednesday that Aon entered into the agreement. The changes are identical to amendments that insurance broker Marsh (a subsidiary of New York-based financial services company Marsh & McLennan) and London-headquartered Willis Group Holdings entered into earlier.
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