Marsh & McLennan Cos. settled yesterday with the New York State Attorney General, Eliot Spitzer, regarding the state’s action against it involving contigent commisions for insurance brokers.  The company agreed to pay $850 million in restitution to its policyholders who were harmed.   It will ban the process of contingent commissions (see Eliot Spitzer’s press release). 

Here is an article in the New York Times about the agreement, and here is Marsh’s apology.  Here is Marsh’s press release on the agreement.  You can listen to the press conference here.