Insurance Investigation Widens to Include a Look at Costs
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The New York attorney general is pursuing reports of payoffs that may increase coverage costs for tens of millions.
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The investigation widened as four additional cases  were reported in Pennsylvania and Connecticut as well as two more in New Jersey.
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SAN FRANCISCO/LOS ANGELES  - California's insurance commissioner said on Tuesday he would audit the state's leading health insurers as regulators pursue more than $1 billion in penalties related to alleged claims violations at UnitedHealth Group Inc's PacifiCare unit.
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Massachusetts Attorney General Thomas F. Reilly and the state Division of Insurance have each opened separate investigations of insurance companies and brokers to determine if any engaged in price fixing or other illegal sales practices that cheated customers out of the best prices for policies.
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The commercial insurer reached an agreement with several states to pay $6 million to resolve an investigation into fees it paid to brokers.
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ACE Ltd. yesterday became the latest insurance company to unveil changes in its business practices in response to the industry probe launched by New York&#39;s attorney general.
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The UK Treasury launches a probe into travel insurance, and may introduce legislation if there has been mis-selling.
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The cost to insurers of damage claims from Hurricane Dean will rise into the billions, a leading reinsurer has said.
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Attorney General Bill Lockyer announced he has launched a formal investigation into possible antitrust violations and fraud by insurance companies and brokers, and said the probe&#39;s initial focus will be on bid-rigging and other anti-competitive conduct in
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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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New York Attorney General Eliot Spitzer on Friday widened his investigation of the insurance business, this time suing a broker that allegedly took kickbacks from big life insurers.
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Investigations into the sale of insurance that can smooth out volatile earnings have widened significantly, as Ace Ltd., a big Bermuda insurer with extensive operations in the United
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(Boston-AP, Oct. 22, 2004 6:07 PM) _ Massachusetts Attorney General Thomas Reilly and top insurance regulators are both investigating fee arrangements between insurers and brokers.
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Spitzer said other insurance companies are being investigated.
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The investigation widened as four additional cases were reported in Pennsylvania and Connecticut as well as two more in New Jersey.
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The US Senate is about to open an investigation into allegations that some of America&#39;s largest insurers and brokers have taken part in schemes to rig insurance bids and to gain inappropriate fees from customers.
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Investigators probing US insurance firms are alleged to have found evidence of improper practices at Aon, the world&#39;s second largest broker.