|
Welcome to the Marsh Settlement Website.
|
The fourth and final payment from the Settlement Fund was made on June 19, 2008. If you did not receive that payment, or any of the previous three payments, please contact the Settlement Administrator at:
Marsh Settlement
c/o The Garden City Group, Inc.
P.O. Box 8892
Melville, NY 11747-8892
or
Marsh Settlement
c/o The Garden City Group, Inc.
105 Maxess Rd.
Melville, NY 11747
Our toll free helpline: 1-800-406-1541 (United States) 941-906-4643 (International)
|
On January 30, 2005, Marsh entered a Settlement
Agreement to resolve a Complaint filed by the New York
State Attorney General and an Amended Citation issued
by the New York State Superintendent of Insurance.
Under the Settlement Agreement, Marsh agreed to
establish an $850 million Fund to compensate its
policyholders. No portion of this payment represents a
fine or penalty, and the entire Fund will be distributed to
Marsh's policyholders. This is an entirely no-fault Fund.
As part of the Settlement Agreement, Marsh also agreed
to implement a series of business reforms. Consistent
with Marsh's commitment to full disclosure and
transparency, Marsh agreed to fully disclose all
compensation arrangements to clients and all quotes and
indications received from insurers with regard to a client's
placement.
Among other reforms, Marsh also implemented a
compliance training program for all brokerage and certain
other personnel and established a Compliance Committee
of the MMC Board of Directors.
To participate in the Settlement Fund, you or your company did not need to establish any damages or harm with regard to any particular placement. Policyholders eligible to participate
in the Fund are Marsh's U.S. policyholder clients that
retained Marsh to place, renew, consult on or service
insurance with inception or renewal dates between January
1, 2001 and December 31, 2004 on which Marsh recorded
contingent commissions or overrides during that period.
On or about May 20, 2005, Marsh sent to each of its
policyholder clients eligible to participate in the Fund a
summary of certain of their policies used under the
Settlement Agreement to ratably allocate the aggregate settlement fund and the amount of compensation offered per application of that formula to the policies indicated.
The amount that you or your company is eligible to receive from the Fund is based on a pro rata portion of the Contingent Commission/Override Revenue recorded by Marsh between January 1, 2001 and December 21, 2004 attributable to your or your company's policies as reflected in your policyholder statement.
In order to participate in the Settlement Fund, you or an authorized representative from your company must have signed the Release form contained in the May 20th mailing and returned it to
the Settlement Administrator.
Marsh made the first, second and third installment payments from the Settlement Fund on November 1, 2005, June 30, 2006 and June 30, 2007, respectively. Checks representing the fourth and final payment were mailed on June 19, 2008.
|