MONITORING COMPLIANCE AND REPORTING. Aon shall establish a Compliance Committee of the Board of Directors of Aon which shall monitor Aon’s compliance with the standards of conduct regarding Compensation from insurers and shall report on a quarterly basis to the Board of Directors the results of its monitoring activities for a period of five (5) years from the effective date of this Agreement.
MONITORING COMPLIANCE AND REPORTING. Marsh shall establish a Compliance Committee of the Board of Directors of Xxxxx and McLennan Companies, Inc. which shall monitor Xxxxx’x compliance with the standards of conduct regarding Compensation from insurers and shall report on a quarterly basis to the Board of Directors the results of its monitoring activities for a period of five (5) years from the effective date of this Agreement.
MONITORING COMPLIANCE AND REPORTING a. As provided in the New York, Illinois and Connecticut Agreement, Aon shall establish a Compliance Committee of the Board of Directors of Aon which shall monitor Aon’s compliance with the standards of conduct regarding compensation from insurers and shall report on a quarterly basis to the Board of Directors the results of its monitoring activities for a period of five (5) years from March 5, 2005, the date of the New York, Illinois and Connecticut Agreement.
b. As provided in the New York, Illinois and Connecticut Agreement, Aon shall maintain a record of all complaints received concerning any compensation from an insurer, which shall be provided to the Compliance Committee of the Board of Directors with the Compliance Committee’s quarterly report. Such record shall further be promptly provided to any Signatory Insurance Regulator upon written request.
c. As provided in the New York, Illinois and Connecticut Agreement, the Board of Directors of Aon shall prepare annual reports on compliance with the standards of conduct regarding compensation arrangements for five (5) years commencing in December 2005, which shall also include the amount of each form of compensation received by Aon from each insurer with which it placed insurance during the preceding year. Such reports shall be submitted to New York, Illinois and Connecticut by March 1 of the succeeding year, and shall further be promptly provided to any Signatory Insurance Regulator upon written request.
d. The Illinois Attorney General and the Director of the Illinois Division of Insurance shall examine and audit Aon’s performance of its obligations under the New York, Illinois and Connecticut Agreement, results of which shall be available to the Signatory States upon request.
