Eliot Spitzer News

N.Y. City Comptroller Hits Auto Insurers’ Profits; Insurers Hit Back

Auto insurance companies are profiting at unprecedented levels from New York drivers who are spending more on insurance premiums while the industry pays out less in claims, New York City Comptroller William C. Thompson, Jr. has charged. He called for …

Spitzer Notifies Insurers Contingent Commissions No Longer an Option

New York Attorney General Eliot Spitzer has notified four leading insurance companies that, under agreements reached with his office earlier this year, they may no longer pay “contingent commissions” to agents and brokers who sell automobile, homeowners and certain other …

Power shift in the political landscape

Although it took a little time for all the votes to be counted, the 2006 midterm elections saw a wave of Democratic candidates wrest control of both houses of Congress, gain a majority of the governorships and take control of …

News Currents

Newly elected Democratic governors in Massachusetts, New York and Maryland are expected to name their own insurance commissioners, although it’s to early to know who the successors might be, according to insurance industry insiders. The industry will see many new …

IIABA president: contingency commission crisis threatens agents

For a small to midsized independent insurance agency, contingency commissions can determine whether the business survives, according to many within the industry. That explains why Alex Soto, a Miami agent who is also president of the Independent Insurance Agents and …

Power shift in the political landscape

Although it took a little time for all the votes to be counted, the 2006 midterm elections saw a wave of Democratic candidates wrest control of both houses of Congress, gain a majority of the governorships and take control of …

Power shift in the political landscape

Although it took a little time for all the votes to be counted, the 2006 midterm elections saw a wave of Democratic candidates wrest control of both houses of Congress, gain a majority of the governorships and take control of …

Power shift in the political landscape

Although it took a little time for all the votes to be counted, the 2006 midterm elections saw a wave of Democratic candidates wrest control of both houses of Congress, gain a majority of the governorships and take control of …

IIABA president: contingency commission crisis threatens agents

For a small- to mid-sized independent insurance agency, contingency commissions can determine whether the business survives, according to many within the industry. That explains why Alex Soto, a Miami agent who is also president of the Independent Insurance Agents and …

DISABILITY INSURER SIGNS “MODEL” PACT OVER COMMISSIONS

UnumProvident Corp. disability insurance company has ended what New York Attorney General Eliot Spitzer called deceptive practices and secret payments to brokers, according to a $15.5 million settlement announced earlier this month. UnumProvident, based in Chattanooga, Tenn., agreed to pay …