As an ex-Marsh employee I can tell you that we who sold the business did not get any portion of the contingent commissions credited towards our own commission payments – all of that stayed with the company. So, you are correct – those “on the ground” didn’t profit from those practices.
I still don’t understand why they are ignoring the family connection. “Father and two sons bring down the industry.” They all get and got paid very well, and they operate(d) unscathed. The Greenbergs are the villains. The father has always been a scum bag. Now the proof is in the pudding and the offspring.
Between Marsh Mac’s 3,000 layoffs and ST Paul Travelers 3,000 layoffs. Some investors could start their own insurance agency or company.
The ones being laid off have a least 10 years with their company and in some cases 20 years total experience.
Anybody listening?
Lots of top execs got the axe on Tuesday. The sad part is that some worked there for over 20 years and got shafted….they are now over 50 women and will never recover…the head of HR is where they are to start – evil woman.
I worked there for awhile and it was a miserable place.
Lots of top execs got the axe on Tuesday. The sad part is that some of the assistants worked there for over 20 years and got shafted….they are now over 50 women and will never recover…the head of HR is where they are to start – evil woman.
I worked there for awhile and it was a miserable place.
It comes as no surprise that the authorities have finally caught up with the unethical business practices sanctioned by the senior management of this broker renowned as being a bully in the market. I am amazed the FSA in the UK has not instigated similar investigations yet. It would not be difficult to find the circulars sent round the company last year re. PSA’s. I used to work there but left because of the awful work environment there and am quite aware of the attitude of the management who are totally detached from the rank and file who have to pay for the errors and omissions and poor management decisions of their superiors. Accountability was never in the business handbook and it would appear that that has not changed. No doubt the Greenberg mafia will walk away with the traditional golden handshakes that have been handed out like sweets to senior management over the last decade.
Your referenece to Sandy Weill is appropriate. I had forgotten about him. He’s the money grubber who sold Travelers to St. Paul. Kind of funny that St. Paul is part of this mess, too. Sandy’s daughter should get a life. Oh I forgot, she has ours in her grubby little greasy paws. I wish them all the worst. I’ve been in this business 25 years, and I spend most of my time apologizing to clients about the insurance carriers’ way of doing business. Maybe more regulation is necessary. God, I hate that I just said that, but it seems they can’t be trusted to do the right thing.
It is abosolutely hideous that the little guy pays the price again for corporate greed. This company and it’s subisidiary companies have consistently robbed from the poor(the real workers-underwriters and support staff)
to give to the rich (senior management). It is a fact of business that lay offs are a necessary evil. They are understandable when an insurance carrier has suffered due to large claims, but the reason behind this lay off is due to fat cats getting fatter. Sickening. I am glad to now be working for a company in the insurance industry that gives all of their employees the opportunity to make good money through hard work and dedication not just senior management through pocket greasing/easy money based on a lie!
Well, my buddy got the handshake last week. He was the sacrifice for Greenberg greed. He had nothing to do with commercial insurance, but his head rolled because he was expendable, an ancillary to the focus of MMC. Just writing the personal insurance of the fat cats whose commercial insurance is written by the company.
He found out today he was the top producer in the company for personal insurance. Guess what? He’s coming on board with my agency. We’re a-goin’ huntin’!
Scumbags they are. They’ve been ruining companies for decades, along with Sandy Weill and the offspring therein, they’ve run our industry down, taking many carriers under, all for the big payoff at the expense of others. they make Enron look like a neighborhood mishap.
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As an ex-Marsh employee I can tell you that we who sold the business did not get any portion of the contingent commissions credited towards our own commission payments – all of that stayed with the company. So, you are correct – those “on the ground” didn’t profit from those practices.
I still don’t understand why they are ignoring the family connection. “Father and two sons bring down the industry.” They all get and got paid very well, and they operate(d) unscathed. The Greenbergs are the villains. The father has always been a scum bag. Now the proof is in the pudding and the offspring.
Between Marsh Mac’s 3,000 layoffs and ST Paul Travelers 3,000 layoffs. Some investors could start their own insurance agency or company.
The ones being laid off have a least 10 years with their company and in some cases 20 years total experience.
Anybody listening?
Lots of top execs got the axe on Tuesday. The sad part is that some worked there for over 20 years and got shafted….they are now over 50 women and will never recover…the head of HR is where they are to start – evil woman.
I worked there for awhile and it was a miserable place.
Lots of top execs got the axe on Tuesday. The sad part is that some of the assistants worked there for over 20 years and got shafted….they are now over 50 women and will never recover…the head of HR is where they are to start – evil woman.
I worked there for awhile and it was a miserable place.
It comes as no surprise that the authorities have finally caught up with the unethical business practices sanctioned by the senior management of this broker renowned as being a bully in the market. I am amazed the FSA in the UK has not instigated similar investigations yet. It would not be difficult to find the circulars sent round the company last year re. PSA’s. I used to work there but left because of the awful work environment there and am quite aware of the attitude of the management who are totally detached from the rank and file who have to pay for the errors and omissions and poor management decisions of their superiors. Accountability was never in the business handbook and it would appear that that has not changed. No doubt the Greenberg mafia will walk away with the traditional golden handshakes that have been handed out like sweets to senior management over the last decade.
Your referenece to Sandy Weill is appropriate. I had forgotten about him. He’s the money grubber who sold Travelers to St. Paul. Kind of funny that St. Paul is part of this mess, too. Sandy’s daughter should get a life. Oh I forgot, she has ours in her grubby little greasy paws. I wish them all the worst. I’ve been in this business 25 years, and I spend most of my time apologizing to clients about the insurance carriers’ way of doing business. Maybe more regulation is necessary. God, I hate that I just said that, but it seems they can’t be trusted to do the right thing.
It is abosolutely hideous that the little guy pays the price again for corporate greed. This company and it’s subisidiary companies have consistently robbed from the poor(the real workers-underwriters and support staff)
to give to the rich (senior management). It is a fact of business that lay offs are a necessary evil. They are understandable when an insurance carrier has suffered due to large claims, but the reason behind this lay off is due to fat cats getting fatter. Sickening. I am glad to now be working for a company in the insurance industry that gives all of their employees the opportunity to make good money through hard work and dedication not just senior management through pocket greasing/easy money based on a lie!
Well, my buddy got the handshake last week. He was the sacrifice for Greenberg greed. He had nothing to do with commercial insurance, but his head rolled because he was expendable, an ancillary to the focus of MMC. Just writing the personal insurance of the fat cats whose commercial insurance is written by the company.
He found out today he was the top producer in the company for personal insurance. Guess what? He’s coming on board with my agency. We’re a-goin’ huntin’!
Scumbags they are. They’ve been ruining companies for decades, along with Sandy Weill and the offspring therein, they’ve run our industry down, taking many carriers under, all for the big payoff at the expense of others. they make Enron look like a neighborhood mishap.