Revised: 09/22/2006
Zurich Financial reviews relationship with brokers,
suspends US employees
November 12, 2004
Zurich Financial Services AG said it has
suspended several US employees following a review of
certain business practices with insurance brokers. The
review includes "a careful look" at Zurich's
relationship with Marsh & McLennan Cos Inc, it said, the
US broker at the centre of a bid-rigging case.
The employees suspended are from Zurich's Excess Casualty underwriting unit in the Specialties Business of Zurich North America Commercial, the Swiss insurer said. As previously announced, Zurich has been subpoenaed by the Office of the New York Attorney General to provide information as part of the industry-wide investigation. "Zurich is complying with that request and it will continue to cooperate with the Office of the Attorney General," it said.
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