Marsh & McLennan, the troubled insurance broker, is to collect and set aside around $230m (€181m) in incentive fees to help compensate alleged victims of the so-called pay-to-play scandal which has rocked the US insurance business.

Eliot Spitzer, the New York state attorney general, has sued Marsh & McLennan accusing the firm of bid rigging and using the incentive fees - also known as contingent commissions - to manipulate the sales of insurance policies.