Ex-exec sues Marsh & McLennan

A former executive of a unit at Marsh & McLennan Cos. Inc. has sued the company, charging that he wasn't fairly compensated after being fired in the wake of a bid- rigging scandal in 2004, published reports said. Roger Egan, who was chief operating officer of New York risk and insurance adviser Marsh Inc., said the firm refused to disburse payments owed to him, despite clearing him of responsibility for the scandal, according to papers filed in the New York State Supreme Court. In 2005, Marsh & McLennan Cos., Marsh Inc.'s parent company, agreed to pay $850 million to settle charges filed by the New York attorney general that accused the firm of price fixing and illegally collecting "contingent compensation" fees from insurers to corral business. Mr. Egan, who was president and chief operating officer of Marsh Inc., was not among the accused, but was one of three employees asked to resign. He is currently the chief executive of New York insurance broker Integro Ltd.