Willis settles Florida fee cases

Willis Group Holdings. today agreed to reimburse about $2.6 million to cities and counties throughout Florida, according to a statement by the Florida Department of Financial Services. The New York-based insurance broker placed multiple insurance contracts in Florida from 1999 through 2004 on behalf of more than a dozen public entities, including economic development councils, city and county governments, and school boards, according to the statement. A joint investigation by the financial services department and the attorney general's antitrust division led to allegations that Willis improperly collected undisclosed fees or commissions when it placed various coverages with insurance companies. Willis denied any wrongdoing, but agreed to the make full written disclosure of commissions in the future.