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Aon Agrees To Return $2.6 Million To Florida Policyholders

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By RUSSELL RAY | The Tampa Tribune

Published: May 23, 2008

TAMPA - Chicago-based Aon Corp., a leading insurance broker, has agreed to reimburse Florida policyholders $2.6 million under a settlement with state regulators.

The Florida Department of Financial Services and the state's attorney general said today that Aon received undisclosed compensation in connection with the placement of insurance coverage on behalf of Florida policyholders.

The deal with the state also requires Aon to pay state agencies $1.4 million in fees and costs in the next 10 days.

Aon brokered several insurance contracts in Florida from 1998 through 2004, and its clients included city governments and school boards, state regulators said. Under the settlement, Aon must disclose to its clients all fees, compensation and commissions tied to each insurance transaction.

Reporter Russell Ray can be reached at (813) 259-7870 or rray@tampatrib.com.

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