I am also a (happily) former Marsh Cleveland employee.
Marsh is guilty of MUCH more than the issues coming to light. I got a hush-money pay-out when they terminated me illegally, breaking EEOC regulations and I threatened to sue.
I witnessed many unsavory actions and unethical business practices take place.
This company is corrupt fromt he top down.
“You reap what you sow”.
I couldn’t agree more.
No accountability for the upper echelon – all the sh*t runs downhill at Marsh.
Too bad the people responsible for the mess are getting away with it, and too many “good” folks are hung out to dry.
Kudos to the earlier comment suggesting that some investors start up a new brokerage or carrier with all of these experienced individuals now available.
great idea.
The PSA/MSA debacle is only the tip of the iceberg of the unethical practices performed by this bully broker. Having been a “peon” within the system (but came to sense in time) one could not help noticing the total lack of consideration and the bully tactics of senior managers who were totally out of touch with the real working world of the employees within the Group, ie;
1. Employees were bullied into signing away their rights under the European Working Time Regulations which limits the amount of hours they have to work under threat that they would not “get on” in the company if they did not do so. Although the Senior Management had done so themselves, they get paid ten times more than anyone else !! This is totally against the law and sanctionable by the regulatory bodies.
2. Bonuses are granted on an annual basis to producing and placing brokers on the basis of realised income (commissions) and not to those who have to service the mess placed in the market for the following x amount of years.
3. The whole argument that PSA’s and MSA’s are to offset administration and servicing costs is a load of baloney ! Company policy was that business was to be placed principally with those companies which offered PSA’s – so where is the duty to place the business with the best or better priced carrier on the best terms and conditions in the best interests of the client. The broker argument is that they should be remunerated by carriers for producing a profitable book of business so why dont they calculate this at the end of a three or four year cycle as it takes that long for the claims to come through !!! They have not produced a profitable book of business for decades – there would not be so many bust carriers if that had not been the case !!! The brokers should pay back all the commissions related to PSA’s on books of business that never were profitable. At least that will keep the auditors busy ! – just not Arthur Andersen.
4. Reinsurers/syndicates would be threatened (called “leverage”) with not receiving new business if they did not pay certain non-covered claims or took adverse positions on particular claims of certain important clients.
5. Most of the employees have no idea who the top management are anyway. The only time you would see them was at the end of year results round when they would boast about all the commissions they had made. We would wonder who the hell these people were – they were never visible in the company – if they ever were there – as they seem to spend all their time flying around the world hobnobbing with the management of other big corporations to scratch each others backs. I am sure they have not even met 90% of the working staff within their own offices.
How about running some grass roots management courses in these mega-corporations like the japs ! These guys really need to go back to management school.
The company should be split up into smaller manageable units as the current management are incapable of running a company of that size. Those teams of honest professional specialists in the Group who think they could set up niche specialist brokers offering better service and impartiality could do very well out this.
well, maybe it’s a corrupted company and they overworked their employees, but in all this mess only poor employees suffer. It was easy for Attorney General to give a huge fine to MARSH because their practice is “fishy”, but I think he could’ve forseen this outcome, when there will be massive lay-offs to cover this fine expenses… SO WHO PROFITS???? This law suit against MARSH hits hardest its low level echelone, and these hardworking people and their families will suffer consequences the most, especially in this low job market, 6 months of unemployment, and stress to find a new job. And ONLY RICH, like top management of MARSH and Attorney General itself, are fine and safe in this world. who would dare to shake their world????????
I\’m just a mail indexer for Mercer in Australia. Thanks to this lawsuit, I too have bitten the dust. It\’s true, the true culprits of this mess will pay no price compared to us – the pawns. I played a very small role in the operating of this company, yet it was still my job, my means of surviving. Just like the rest of the pwans, I\’ll just have to start all over again.
I represent a retired Marsh employee who lost his entire stock position in Marsh from the sale of his agency before the Global Broking bid rigging scheme. Are there any more recent former employees who would be in a position to help us either confidentially or otherwise to establish the fact that the scheme was known to top management and concealed?
If so please respond to toknkok@aol.com.
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I am also a (happily) former Marsh Cleveland employee.
Marsh is guilty of MUCH more than the issues coming to light. I got a hush-money pay-out when they terminated me illegally, breaking EEOC regulations and I threatened to sue.
I witnessed many unsavory actions and unethical business practices take place.
This company is corrupt fromt he top down.
“You reap what you sow”.
I couldn’t agree more.
No accountability for the upper echelon – all the sh*t runs downhill at Marsh.
Too bad the people responsible for the mess are getting away with it, and too many “good” folks are hung out to dry.
Kudos to the earlier comment suggesting that some investors start up a new brokerage or carrier with all of these experienced individuals now available.
great idea.
The PSA/MSA debacle is only the tip of the iceberg of the unethical practices performed by this bully broker. Having been a “peon” within the system (but came to sense in time) one could not help noticing the total lack of consideration and the bully tactics of senior managers who were totally out of touch with the real working world of the employees within the Group, ie;
1. Employees were bullied into signing away their rights under the European Working Time Regulations which limits the amount of hours they have to work under threat that they would not “get on” in the company if they did not do so. Although the Senior Management had done so themselves, they get paid ten times more than anyone else !! This is totally against the law and sanctionable by the regulatory bodies.
2. Bonuses are granted on an annual basis to producing and placing brokers on the basis of realised income (commissions) and not to those who have to service the mess placed in the market for the following x amount of years.
3. The whole argument that PSA’s and MSA’s are to offset administration and servicing costs is a load of baloney ! Company policy was that business was to be placed principally with those companies which offered PSA’s – so where is the duty to place the business with the best or better priced carrier on the best terms and conditions in the best interests of the client. The broker argument is that they should be remunerated by carriers for producing a profitable book of business so why dont they calculate this at the end of a three or four year cycle as it takes that long for the claims to come through !!! They have not produced a profitable book of business for decades – there would not be so many bust carriers if that had not been the case !!! The brokers should pay back all the commissions related to PSA’s on books of business that never were profitable. At least that will keep the auditors busy ! – just not Arthur Andersen.
4. Reinsurers/syndicates would be threatened (called “leverage”) with not receiving new business if they did not pay certain non-covered claims or took adverse positions on particular claims of certain important clients.
5. Most of the employees have no idea who the top management are anyway. The only time you would see them was at the end of year results round when they would boast about all the commissions they had made. We would wonder who the hell these people were – they were never visible in the company – if they ever were there – as they seem to spend all their time flying around the world hobnobbing with the management of other big corporations to scratch each others backs. I am sure they have not even met 90% of the working staff within their own offices.
How about running some grass roots management courses in these mega-corporations like the japs ! These guys really need to go back to management school.
The company should be split up into smaller manageable units as the current management are incapable of running a company of that size. Those teams of honest professional specialists in the Group who think they could set up niche specialist brokers offering better service and impartiality could do very well out this.
well, maybe it’s a corrupted company and they overworked their employees, but in all this mess only poor employees suffer. It was easy for Attorney General to give a huge fine to MARSH because their practice is “fishy”, but I think he could’ve forseen this outcome, when there will be massive lay-offs to cover this fine expenses… SO WHO PROFITS???? This law suit against MARSH hits hardest its low level echelone, and these hardworking people and their families will suffer consequences the most, especially in this low job market, 6 months of unemployment, and stress to find a new job. And ONLY RICH, like top management of MARSH and Attorney General itself, are fine and safe in this world. who would dare to shake their world????????
I\’m just a mail indexer for Mercer in Australia. Thanks to this lawsuit, I too have bitten the dust. It\’s true, the true culprits of this mess will pay no price compared to us – the pawns. I played a very small role in the operating of this company, yet it was still my job, my means of surviving. Just like the rest of the pwans, I\’ll just have to start all over again.
I represent a retired Marsh employee who lost his entire stock position in Marsh from the sale of his agency before the Global Broking bid rigging scheme. Are there any more recent former employees who would be in a position to help us either confidentially or otherwise to establish the fact that the scheme was known to top management and concealed?
If so please respond to toknkok@aol.com.