Marsh to Set Aside Payments From Insurers

Marsh & McLennan Cos., the insurance brokerage sued by New York Atty. Gen. Eliot Spitzer for taking payments from insurers, said it planned to put about $230 million of the fees into an account that might become part of a restitution agreement.

Marsh said the amount represented what insurers owed the company as of Sept. 30. The New York brokerage stopped taking payments from insurers Oct. 15, the day after Spitzer filed a suit calling them kickbacks.

“The company said it will place amounts collected into a segregated account to be used in connection with any restitution agreement it may reach” with Spitzer, Marsh said in a statement. Spokesman Jim Fingeroth declined to comment further.

Spitzer’s suit accused Marsh of colluding with insurers at the expense of the clients it represents.