Ok, I am watching Spitzer increasing his investigations. Are these investigations about politics or finding true abuses. His initial investigation was about bid rigging and that is a no no. Now I read that he is investigating a life company that received extra compensation. In the words of the AG, "these extra charges cost the insured money." Is Mr. Spitzer communicating that what we all get paid "costs" the insured "extra" money?
<<The complaint alleges that ULR received "override'' payments from insurers for awarding them contracts to provide group coverage.>>
The above statement confuses me. If the employee's representative company's that said yes to the employee plans were paid something for awarding the broker the business, that I can understand but I can't understand an over-ride as being fraudulent. Is the AG saying that you must always sell the lowest price and not consider insurance company strength, service, etc?
I'm beginning to think that this is about politics and less about finding true fraud and deceit.
