Spitzer Accuses Insurance Industry of Rigging Bids
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Brokers required to provide competing bids to customers have been taking payoffs from insurance companies resulting in widespread corruption in the industry, New York's Attorney General charged today.
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New York Attorney General Eliot Spitzer on Thursday sued Marsh &amp; McLennan Cos., the world&#39;s No. 1 insurance broker, for steering unsuspecting clients to certain insurers in exchange for
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The New York attorney general's investigation into abuses in the insurance industry escalated with a lawsuit accusing a California broker of fraudulent practices.
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NEW YORK : New York Attorney General Eliot Spitzer sued Thursday a major US insurance brokerage firm, Marsh and McLennan Co, for steering clients to insurers with whom it had lucrative payoff agreements.
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The New York attorney general&#39;s investigation into abuses in the insurance industry escalated yesterday with a lawsuit accusing a California broker of fraudulent practices that led to higher
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New York Attorney General Eliot  Spitzer, who is probing bid-rigging in the insurance industry,  expects to file suit against health insurance consultant  Universal Life Resources as early as Friday, a spokesman for  his office said.
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The New York attorney general filed a lawsuit today accusing the world's largest insurance broker of cheating its customers by rigging bids for the coverage they bought.
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In the four days since New York Attorney General Eliot L. Spitzer alleged that brokers and corporate insurance carriers were engaged in bid-rigging and secret payoffs
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Spitzer said other insurance companies are being investigated.
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ALBANY, NY - New York&#39;s attorney general sued the nation&#39;s leading insurance brokerage Thursday, accusing brokers of taking payoffs to steer clients to insurance companies that were not necessarily offering the lowest prices for their policies.
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The probe into insurance bid-rigging by New York's attorney general widened to health insurers on Tuesday, unnerving investors worried that more revelations of wrongdoing and lower profits lie ahead.
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NEW YORK, Nov. 4 -- Companies caught up in New York state Attorney General Eliot L. Spitzer's investigation into rigged bids and kickbacks in the insurance industry began firing and suspending executives charged with or suspected of involvement in the alleged wrongdoing.
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The New York state attorney general accused the world's largest insurance broker of cheating customers by rigging prices in exchange for kickbacks.
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IT HAS been a rough few years for insurers - and, this week, it just got a lot worse. The attack by Eliot Spitzer, New Yorkâs attorney general, on the probity of the United States insurance industry - and
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New York Attorney General Eliot  Spitzer on Thursday sued insurance broker Marsh & McLennan Cos.  MMC.N, charging they engaged in market manipulation.
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Marsh &amp; McLennan Companies Inc., the insurance brokerage giant, is looking to collect about $230 million in incentive fees at the heart of a bid-rigging probe by New York authorities as a way to help fund a possible settlement over the questioned fees.
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Marsh &amp; McLennan Cos. (MMC.N: Quote, Profile, Research) , the insurance broker accused by New York&#39;s Attorney General Eliot Spitzer of bid-rigging fraud, on