Allegedly, leading insurance brokerage firms have steered unsuspecting clients to insurers who would pay them the highest commissions, and that the firms solicited rigged bids for insurance contracts.
Allegedly, insurance brokers have received special payments from insurance companies that were above and beyond normal sales commissions. These payments -- known as "contingent commissions" -- were labeled as compensation for "market services" but were, in fact, rewards for the business that insurance brokers steered to insurance companies.
It is also alleged that insurance brokers sometimes solicited fake bids, in order to deceive its customers into thinking that true competition had taken place. Insurance brokers such as Marsh McLennan Cos., ACE, AIG, Aon Corp, Willis Group Holdings, Arthur j. Gallagher, Kaye Insurance Assocaites, National Financial partners, The Hartford andMunich American Risk Partners may have been involved in such actions.
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