FSA monitors investigation into US insurance industry
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BRITAIN&#39;S main financial regulator yesterday confirmed it is monitoring developments in a high-level probe into corruption in the US insurance industry.
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Congress is examining the scandal rippling through the insurance industry, with its largest brokerage accused of bid rigging and price fixing amid high-level resignations, employee layoffs and guilty pleas by some executives.
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State and federal regulators need to widen their probe of the US insurance industry to protect consumers and the economy, New York Attorney General Eliot Spitzer told a congressional panel yesterday.
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American International Group Inc., the  world's largest insurer by market value, said on Thursday it  was the target of a federal grand jury investigation into  products that prosecutors say were concocted to help companies  manage their earnings.
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Some of the insurance brokers and carriers under investigation in New York Attorney General Eliot L. Spitzer&#39;s probe of steering and bid-rigging are major players in the Washington area insurance market.
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Marsh &amp; McLennan Cos., Aon Corp. and Willis Group Holdings Ltd., insurance brokers whose business practices are the focus of a probe by New York Attorney General Eliot Spitzer, have
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Preliminary investigations in New York, Connecticut and California suggest that insurance companies frequently pay insurance brokers and agents undisclosed compensation -- including cash, loans
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New York State regulators are looking  into WellCare Health Plans Inc's  activities as they  relate to the state's Medicaid program, a person familiar with  the investigation said on Tuesday.
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Attorney General Eliot Spitzer&#39;s blockbuster insurance industry probe, which has rocked Wall Street with charges of conflicts of interest, is likely to focus next on health insurance.
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Fannie Maeâs regulator, the Office of Federal Housing Enterprise Oversight, has launched a probe into the bonuses and compensations received by the two top executives fired earlier this week.
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New York Attorney General Eliot  Spitzer's probe of bid-rigging in the U.S. insurance industry  is quickly becoming national in scope as at least three more  states opened similar investigations.
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Fannie Mae, the US biggest government-ruled mortgage lender, faces formal investigation conducted by the US Justice Department of possible accounting fraud.
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Corporations are eye-balling their insurance policies and payments more closely these days, in light of alleged broker kick-backs and bid-rigging uncovered by New York&#39;s attorney general.
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As scrutiny of the insurance industry intensifies, investigations are likely to underline the web of relationships between insurers and Marsh & McLennan.
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New York State regulators are looking into WellCare Health Plans Inc's  activities as they relate to the state's Medicaid program, a person familiar with the investigation said on Tuesday.
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The Director of the Arizona Department of Insurance, Christina Urias, is joining insurance regulators in other states to review allegations of bid-rigging and price-fixing between insurance brokers and insurance companies.
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The FSA is considering a crackdown on websites that compare insurance products, the BBC has learned.