Announced on Monday, March 20, 2006, Zurich Financial Services Group entered a nine state settlement agreement with AGs and Departments of Insurance from CA, HI, MD, MA, OR, PA, TX, WV & FL (at this writing pending final approval, but expected) concerning Zurich’s part and actions in the Marsh, Aon and other “B-bids” and compensation disclosure issues of 2004.

PIA National invited Zurich to send representatives to the Spring 2006 PIA National Board of Directors meeting. On April 9, 2006, John Lynch, the executive vice president & CEO of Zurich, and David Bowers, United States General Counsel for Zurich, appeared before the PIA National Board of Directors. Lynch and Bowers briefed PIA Board members on issues related to the settlement agreement. The discussions included new disclosure requirements. The briefing session, which included written questions from Board members, was moderated by PIA National Secretary/Assistant Treasurer Kenneth R. Auerbach, Esq.

PIA National has placed a copy of the PowerPoint presentation that Lynch and Bowers used to illustrate their presentation to the PIA National Board on April 9 on our Web site. This resource is available only to PIA members and requires your member login. You can link directly to this resource page here. Please note that PIA has not edited this PowerPoint presentation. All of the slides and accompanying annotations were provided to PIA by Zurich, for sharing with PIA members.

May 17, 2006