Former Marsh execs face criminal charges
Enough of the apologies, Marsh is getting back on the front foot. As eight former Marsh brokers were charged in New York with colluding with insurers’ staff to arrange noncompetitive bids, the company was moving to put some air between itself and the defendants.
The eight are among 17 individuals from five companies who have previously pleaded guilty to criminal charges in the industry investigation sparked by New York Attorney-General Eliot Spitzer.
Michael Cherkasky, CEO and President of Marsh parent Marsh & McLennan Corporation (MMC), says the proceedings aren’t against the group but “eight former employees who worked in the excess casualty division of Marsh’s former global placement division”.
“This indictment is about the past,” he said. “MMC today is focused on the future and is committed to excellence and the highest standards of professionalism and service.”