An industry survey of risk managers of large companies found that despite investigations by New York Attorney General Eliot Spitzer that led to charges of bid-rigging and price-fixing by Marsh, the brokerage is still their first choice overall.
The survey, conducted by Banc of America Securities, also found that a number of risk managers are seeking to divide their business between several brokers and that broker fees have remained flat, despite a softening market.
"I thought that maybe the sentiment toward Marsh would have decreased a little bit more, given the scandals that are going on," said Brian R. Meredith, senior property-casualty insurance analyst with Banc of America Securities in New York.
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