Perhaps like you, I have been fascinated by the press coverage our industry has received lately–probably more individual stories in prominent newspapers than at any other point in the last 25 years, all thanks to the lawsuit New York Attorney …
Will pending investigations of insurance brokers halt the robust pace of the industry’s mergers and acquisitions (M&A) activity? In mid-October 2004, New York State Attorney General Eliot Spitzer filed a civil lawsuit against Marsh & McLennan Cos., alleging marketplace corruption …
With the latest insurance industry market conduct problem, consumers once again see not only the failure of state insurance regulation to protect them but the refusal of state insurance regulators to take responsibility for their failure. The latest actions by …
Connecticut Attorney General Richard Blumenthal has expanded his investigation into allegations that insurance bids were rigged by examining whether unlawful practices have affected municipalities in the state. In a letter to each of Connecticut’s mayors and first selectmen, Blumenthal has …
In the wake of the ongoing insurance brokerage probe involving bid rigging and incentive payments, Rhode Island Secretary of State Matt Brown is proposing legislation to prohibit insurance industry “incentive fees” and require full disclosure of all fee arrangements with …
Googlism.com strikes again, this time on the subject of the man who’s turning the insurance industry upside down. Googlism tells you what the Google search engine says about anybody or anything. The Web site tells us that New York Attorney …
New York City-based brokerage giant Marsh & McLennan Cos. revealed it would lay off about 3,000 employees to reduce annual expenses by $400 million. About three-quarters of the layoffs will occur in the insurance and risk management sectors, the company …
Maine has joined a nationwide investigation into price fixing and other abuses in the insurance industry. Maine Insurance Superintendent Al Iuppa said his department is working with the National Association of Insurance Commissioners as part of the information-gathering part of …
A bulletin from the office of lame-duck Illinois Republican Sen. Peter G. Fitzgerald indicates that: “It might be time to use federal antitrust enforcement to ensure that the insurance brokerage industry remains free, competitive, and healthy for consumers.” Fitzgerald said …
New York Attorney General Eliot Spitzer signaled today he believes investigations of the insurance industry have only “scratched the surface” thus far of questionable activities and that additional probes are needed into off-shore insurers, insurance rating organizations and the investment …
