This year’s annual report on the reinsurance industry is a bit later than usual. It seems that beginning in August the voyage was interrupted by some serious storms, and it was hard to catch up to the boat as it …
Recent Key Developments in Ongoing Probes of Marsh, Other Brokers and Insurers Marsh ‘Hopeful’ of Quick Settlement Marsh & McLennan has been in constant contact and cooperation with New York Attorney Eliot Spitzer and 26 other states investigating its insurance …
While in Springfield, Ill., a few weeks ago covering the Professional Independent Insurance Agents of Illinois’ annual convention, I was in a serious car accident. Fortunately, it was a rental car. Fortunately, I had opted not to waive collision damage …
Minnesota Attorney General Mike Hatch has proposed a series of sweeping rules regulating how brokers would operate in the Land of 10,000 Lakes. Hatch, a Democrat, has found compatriots in the Minnesota legislature to propose legislation in the upcoming session …
In an effort to obtain a better look at insurance contracts with state agencies and any impact on public dollars, Tom Gallagher, Florida Chief Financial Officer, has subpoenaed Marsh & McLennan to obtain documents related to the purchase of property …
Itasca, Ill.-based Gallagher Bassett Services Inc., a third party administrator and a wholly-owned subsidiary of Arthur J. Gallagher & Co., received a subpoena from the office of New York Attorney General Eliot Spitzer requesting information in connection with an investigation …
The Property Casualty Insurers Association of America will host a seminar aimed at helping member company executives better understand the legal and regulatory issues related to producer compensation raised by the investigation by New York Attorney General Eliot Spitzer. The …
A New York Assembly Committee hearing into insurance brokerage practices scheduled for Monday, Dec. 6 has been postponed. The office of the Assembly Insurance Committee said no new date has been announced. Assemblyman Alexander “Pete” Grannis is chair of the …
State insurance regulators are investigating Marsh USA, which has acknowledged overcharging six Oregon school districts and Lane Community College since 2000. Marsh, the nation’s biggest insurance brokerage, alerted the districts to the inflated bills in late October and has offered …
The Securities and Exchange Commission has subpoenaed The Chubb Corp. in a “fact-finding inquiry” regarding loss-mitigation insurance products. The Warren, N.J., company said in a filing with the SEC that the subpoena was similar to one Chubb received from New …
