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Independent agents will face a major new competitor next year after Marsh, one of the world’s largest insurance brokerages, launches a new firm to pursue the bread-and-butter business of Main Street producers–small-commercial accounts.

Marsh, the insurance brokerage subsidiary of New York-based Marsh & McLennan Companies, announced it is forming a new unit–Marsh & McLennan Agency LLC–devoted to serving the insurance needs of small and emerging U.S. companies.

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