Marsh & McLennan Agency Acquires Michigan’s McGraw Wentworth

January 8, 2013Email ThisPrintNewslettersTweetArticleComments

Marsh & McLennan Agency LLC (MMA), a subsidiary of Marsh Inc., has acquired McGraw Wentworth Inc., an employee group benefits consulting and brokerage firm based in Troy, Mich. Terms of the transaction were not disclosed.

Founded in 1997 by Thomas P. McGraw and William D. Wentworth, McGraw Wentworth has annual revenues of approximately $15 million. The firm offers a broad range of strategic benefit consulting services to midsize organizations including manufacturers, automotive suppliers, financial services, non-profits, public schools and local municipalities.

McGraw Wentworth will operate out of MMA’s upper Midwest hub, expanding MMA’s footprint into Michigan. All of the firm’s 72 employees including Thomas McGraw and William Wentworth will join MMA and continue operating out of their existing office.

Source: Marsh & McLennan Agency

 

Email ThisPrintNewslettersTweetCategories: Midwest NewsTopics: Business Moves & Mergers, Marsh & McLennan Agency LLC, McGraw Wentworth Inc., Mergers and Acquisitions, Michigan, Thomas P. McGraw, Troy, William D. WentworthHave a hot lead? Email us at newsdesk

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Marsh Launches Risk Transfer Product for Wage, Hour Claims

January 8, 2013Email ThisPrintNewslettersTweetArticleComments

With the number of wage and hour claims against employers on the rise, Marsh has launched a new insurance product that reimburses companies for defense costs, settlements, and judgments for actual or alleged violations of the Fair Labor Standards Act (FLSA) or similar state and local laws.

The Marsh Wage and Hour Preferred Solution is offered exclusively through Marsh and its international specialty placement broker Bowring Marsh. The policy provides up to $100 million of insurance coverage for wage and hour claims, which generally are excluded under traditional employment practices liability insurance policies. Examples of such claims include allegations that an employer failed to pay employees for overtime hours worked, failed to provide or pay for meal breaks and rest periods, or misclassified employees as exempt rather than non-exempt from legal overtime provisions.

The number of these claims filed in federal court under the FLSA

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