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Reply #20: Marsh is Kroll + Definition Risk Management [View All]

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DrDebug Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jun-20-06 07:20 PM
Response to Reply #18
20. Marsh is Kroll + Definition Risk Management

Welcome to the murky world of Kroll Inc - the private CIA
By Ben Hills
June 25, 2005

(...)
In May 2004, Julius Kroll received an offer he could not refuse. Marsh & McLennan, the New York insurance broker which claims to be the world's largest, took over Kroll for an eye-popping $US1.9 billion ($2.46 billion), more than $US100 million of which was pocketed by its founder.

(...)
Last October (2004), New York's crusading district attorney, Eliot Spitzer, filed suit against Marsh & McLennan, accusing the company of having, for years, colluded with big insurance companies to "cheat customers in an elaborate charade of price fixing and bid rigging".

The three insurers he named were the giants American International Group, Zurich America Insurance Company and Ace Ltd. Adding spice to the story was the relationship between them: AIG was headed by the 79-year-old insurance industry legend Maurice "Hank" Greenberg; his son Jeffrey ran Marsh & McLennan, and; another son, Evan, was boss of Ace.

(...)
Within three months, Cherkasky had overseen a clean-out of Marsh & McLennan's board, and the sacking of most of the executives deemed accountable for the corruption. In January, he persuaded Spitzer to drop the civil charges against the company by pledging to pay $US850 million to clients around the world - including Australia - that Marsh & McLennan had defrauded.

Criminal charges are still pending against 10 former executives of Marsh & McLennan and the insurance companies. In February, Kathryn Winter, the 50-year-old managing director of Marsh Inc, pleaded guilty to fraud in the Manhattan State Superior Court. She faces up to four years' jail, depending on how keenly she co-operates with Spitzer's investigators.

(...)
http://www.smh.com.au/news/business/welcome-to-the-murky-world-of-kroll-inc--the-private-cia/2005/06/24/1119321904732.html



(...)
Risk management is a PR specialism which aims to help corporations strategically plan to avoid negative publicity, as well as to deal with it on an ad-hoc basis. PR agencies specialising in risk management include Regester Larkin and Kroll, Inc..

http://sourcewatch.org/index.php?title=Risk


You know people who are posting on messageboards on behalf of companies etc... spammers...
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