Florida officials announced today that Brown & Brown, Inc. has agreed to reimburse up to 400 cities, counties and public entities in Florida with approximately $5.8 million for collecting undisclosed brokerage fees or commissions.
They said the hidden fees were paid to the Daytona Beach, Fla.-based company for placing various types of business with insurance companies for a range of groups that included the Florida Department of Law Enforcement and Broward County Sheriffs Department.
B&B, in the settlement, neither admitted nor accepted any finding of wrongdoing, but agreed not to engage in bid-rigging in exchange for payments from carriers.
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