Arthur J. Gallagher has returned more than $2 million that it says an employee overcharged three Florida towns for insurance, but the municipalities say the brokerage may not have paid them enough.
Itasca, Ill.-based Gallagher owned up to the problem in mid-June when it presented a check of more than $1.3 million to city officials in Gainesville, Fla. The broker told the city the amount covered a 14-year period and involved the payment of excess commissions, said Bob Woods, the city's public information officer.
Gallagher said the payment was not related to the sort of improper contingent commissions that investigators have accused the brokerage industry of using to fix prices.
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