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Mercury General Corporation Message Board

  • boo_d_goo_d boo_d_goo_d Feb 16, 2005 6:57 PM Flag

    Guilty as charged.....................

    part II

    "I personally solicited losing quotes on a number of occasions," Bewlay said in his plea statement. "Unknown to Marsh's clients, I, along with others at Marsh and others at various insurance companies who participated in this conduct, shared the common purpose of insuring that a particular carrier bound the client's excess casualty insurance policy; `B quotes' were solicited and obtained related to and as part of this common scheme, and, the scheme caused more than one Marsh client to obtain more expensive and/or less favorable insurance coverage."
    Spitzer sued Marsh in October and also implicated AIG and several other major insurance companies. He said brokers throughout the industry, rather than get the best prices for policies as they are required to do, took payoffs from insurance companies to steer corporate clients their way.
    In a statement, AIG said it "takes this matter very seriously and deeply regrets that some of its employees were involved."
    In court Tuesday, Bewlay referred to "Marsh protocol designed to prevent Marsh's clients from obtaining accurate information ... the protocol required multiple layers of inquiry to discourage the client from obtaining the answer."
    Justice James Yates accepted the pleas but deferred sentencing, saying he will impose punishment -- depending on each defendant's level of cooperation -- when Spitzer's investigation is completed.
    Jeffrey Licthman, lawyer for Mohs, said his client "is accepting full responsibility for his conduct and doing all he can to right this wrong."

 
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