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Willis Group Holdings

Tallahassee, FL: (Jul-17-07) The State of Florida filed an insurance malpractice lawsuit against national insurance broker Willis Group Holdings, alleging that the company improperly collected undisclosed fees or commissions. The suit was filed after state authorities received complaints from consumers, claiming that they had been unduly charged with the fees. The Attorney Generals office stated that in the insurance industry, honesty and accountability are of paramount importance, and any breaches will be dealt with severely. State officials alleged that Willis brokered several insurance contracts from 1999-2004 and unfairly charged the clients they represented.

In a settlement reached, Willis Group Holdings agreed to pay $2.6 million in reimbursement to the effected consumers. Willis will also be required to disclose all commissions in the state. The settlement concludes an investigation by Attorney General Bill McCollum's Antitrust Division and the Department of Financial Services. Willis denied any wrongdoing despite the settlement. [LEGAL NEWSLINE: INSURANCE FEES]

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Published on Jul-18-07


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