Actuarial Firms React To Antitrust Inquiry

Towers Perrin “made an independent and unilateral business decision to require a limitation of liability in the agreements we enter to deliver consulting services to our clients,” Towers Perrin says in a statement. “The firm is confident that this decision was made and implemented in a completely proper and lawful manner.”

At Milliman, “the request we received relates to whether there have been anticompetitive agreements or understandings among firms providing employee benefits actuarial consulting services,” Milliman says in its statement. “Milliman has not been accused of any wrongdoing. We are comfortable that our firm has acted in compliance with its legal and professional obligations.”

Both Towers Perrin and Milliman say they are complying fully with the Justice Department requests for information.

Hewitt Associates has been contacted by the Justice Department and is cooperating fully, Hewitt spokesman Maurissa Kanter says.

Watson Wyatt is providing information requested by the Justice Department and will continue to provide information if additional information is requested, Watson Wyatt spokesman David Popper says.