July 3, 2005
Meredith Dettor Jr., founder and president of a Towson insurance brokerage and World War II veteran, died of cancer Wednesday at his home in the Hampton section of Baltimore County. He was 83. Mr. Dettor was born in Baltimore and raised on Jonquil Avenue. He was a 1940 graduate of Forest Park High School and enlisted in the Army Air Corps in 1941. Trained as a pilot at Randolph Field in Texas, Mr. Dettor instructed foreign pilots and was then sent to aerial combat school. He was later assigned to Gen. Henry H. "Hap" Arnold's West Coast Training Command as a flight commander and supervisor of instrument flying.
October 26, 2004
NEW YORK - Jeffrey W. Greenberg, chief executive of Marsh & McLennan Cos. Inc., resigned yesterday, 11 days after New York Attorney General Eliot Spitzer accused the company's subsidiary of rigging insurance prices and taking kickbacks. Greenberg ran the world's largest insurance brokerage for five years. He was replaced by Michael G. Cherkasky, the head of Marsh Inc., the Marsh & McLennan subsidiary that is the focus of accusations of misconduct. Cherkasky, the former head of Kroll Inc., the risk consultant Marsh & McLennan bought in July, was Spitzer's boss at the Manhattan district attorney's office more than a decade ago. He was promoted to head Marsh Inc. after Spitzer filed his lawsuit against the firm Oct. 14. "It is now time for the company to move forward to resolve the issues confronting it," Marsh & McLennan directors said in a statement.
October 23, 2004
Board members of Marsh & McLennan Cos. Inc. reportedly are discussing a deal to assure the departure of chief executive Jeffrey W. Greenberg over allegations of widespread bid rigging and fraud by the nation's largest insurance brokerage. The Financial Times and The Wall Street Journal, quoting people close to the talks, said Greenberg is expected to step down. Marsh & McLennan spokeswoman Barbara Perlmutter didn't return phone calls seeking comment on the newspaper reports. Jules Kroll, founder of Kroll Inc., the investigations company that Marsh & McLennan bought this year, denied a Financial Times report that he will replace Greenberg on an interim basis.
April 24, 2004
NEW YORK - New York state Attorney General Eliot Spitzer, who shook up investment banks and mutual funds with investigations into stock research and trading, is examining possible conflicts of interest at insurance brokerages. Marsh & McLennan Cos., Aon Corp. and Willis Group Holdings Ltd., the world's biggest insurance brokerages, said yesterday that they have received subpoenas concerning their practice of accepting payments from both sides of an insurance transaction. Some brokers are receiving similar requests, Aon said.
April 16, 2004
In the Region Norway lawmakers threaten to pull out from fighter program Norwegian lawmakers threatened yesterday to pull out of the U.S.-led development of a new jet fighter unless American companies make good on promises of defense contracts for Norway. In June 2002, Norway joined the U.S.-led consortium of other NATO countries to develop the new $200 billion F-35 Joint Strike Fighter. In return for its $143 million contribution over 10 years, Norwegian defense companies were supposed to get contracts from the Pentagon and the aircraft's prime developer, Lockheed Martin Corp.
August 1, 2002
George Paul Cox, founder and president of Atlantic Agency Ltd., a Baltimore insurance brokerage, died of respiratory failure July 25 at Glen Meadows Retirement Community in Glen Arm. He was 99. Mr. Cox, whose career in the insurance industry spanned 70 years, established the business in 1980. He remained president and active in the business until his death. The former Mays Chapel resident was born and raised in Medford, Mass., where he graduated from high school. He began his career in the insurance industry in 1931, when he joined Metropolitan Life Insurance Co. in Massachusetts.