Many consumers will pay more for home and auto insurance if a state-proposed rule to ban the use of credit-based insurance scoring discounts in Michigan becomes effective next year, a lobbyist for the state’s insurers argued in a written statement. …
Citing concerns that Minnesota businesses and their employees may have been affected by alleged bid rigging, Gov. Tim Pawlenty has asked Commerce Commissioner Glenn Wilson to review the relationship between brokers and insurance companies doing business in the state. The …
The Ohio Department of Insurance is investigating allegations of bid rigging and other sales-related insurance activities both locally and, in conjunction with other states, at the national level, Department of Insurance Director Ann Womer Benjamin announced. The allegations arose from …
Chicago-based brokerage giant Aon Corp. announced that it is eliminating its practice of accepting contingent commissions from underwriters. The move most likely is a response to New York Attorney General Eliot Spitzer’s suit against New York-based Marsh for the practice. …
New York Attorney General Eliot Spitzer’s filing on Oct. 14 of charges against giant insurance broker Marsh for alleged commercial account steering and bid-rigging has already had significant impact on Marsh and is expected to reach into the insurance brokerage …
An unknown group aired a television ad bashing Michigan Supreme Court Justice Stephen Markman, who was up for re-election. The negative ad was the first in the high court race, which had been relatively calm. A group that calls itself …
Terrorism, asbestos and tort reform will be key industry concerns according to five insurance company CEOs participating in a panel discussion during last month’s Independent Insurance Agents & Brokers of America (IIABA) convention in Orlando, before Eliot Spitzer’s bombshell rocked …
By now, you probably are aware that insurance broker Marsh & McLennan Companies Inc. and Marsh Inc. (collectively Marsh) were sued in New York on Oct. 14 based on allegations of engaging in certain illegal business practices, specifically “bid rigging,” …
Lenient parents best beware: A new generation of tough laws make parents liable for underage drinking. In the past decade, about 35 states have passed “social host” laws that make adults criminally and civilly liable when they provide alcohol to …
As commissioners and attorneys general in state after state announced their own probes of insurance practices, the National Association of Insurance Commissioners (NAIC) revealed it is working on a coordinated response. “State insurance regulators are actively pursuing all of the …
