Nearly $1.5 million was returned today to several government organizations in the Tampa Bay area after state investigators found that insurance brokers received undisclosed fees and commissions from insurers.
The brokers - Aon Corp. and Willis Group Holdings - negotiated insurance coverage for city governments, county governments and school boards in Florida.
However, the state Attorney General's Office and the Department of Financial Services found that both New York-based brokers were receiving undisclosed payments from insurers in exchange for the business.
Neither company admitted any wrongdoing but both agreed to reimburse policyholders $5.2 million in settlements with the state.
This afternoon,Attorney General Bill McCollum and Chief Financial Officer Alex Sink presented settlement checks to the following Bay area organizations: Hillsborough County School District; Pinellas County Board of Commissioners; Tampa Housing Authority; Pinellas County School Board; Tampa-Hillsborough County Expressway Authority; and Tampa Bay Water.
The Attorney General and the CFO presented checks to:
• Hillsborough County School District: $886,038;
• Pinellas County School Board: $457,671;
• Pinellas County Board of County Commissioners: $181,440;
• Tampa Bay Water: $145,204;
• Tampa Hillsborough County Expressway Authority: $141,120;
• City of Tampa Housing Authority: $79,834.
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