Fallout from the investigation by New York Attorney-General Eliot Spitzer continues, with most leading brokers now having renounced the controversial contingent commissions at the centre of the investigation. Now the sackings are increasing as insurers and brokers demonstrate their willingness to put their houses in order.

Ace, one of the first insurers named by Mr Spitzer as an investigation target over dealings with troubled broker Marsh, has dismissed two employees over their alleged involvement.

Both the employees worked in Ace’s excess casualty unit in Philadelphia. Three other employees in the unit have been suspended.

Last week four senior Marsh executives were dismissed. As Marsh moves to reform its business practices under new Chairman and CEO Michael Cherkasky – who is also a former colleague of Mr Spitzer – media reports have suggested that the group’s general counsel’s resignation is imminent as the investigators dig deeper.

No 2 broker Aon has also been named as a company of interest to Mr Spitzer’s investigation, and media reports say the breadth of the Spitzer dragnet is increasing.