XL Capital Ltd (NYSE:XL) in Hamilton, Bermuda said that its subsidiary, X.L. America Inc., received a subpoena from the New York Attorney general Eliot Spitzer in connection with an ongoing, industry-wide investigation of insurance sales practices. The company said it …
The London market in general and Lloyd’s in particular has not been overly verbose in commenting on New York State Attorney General Eliot Spitzer’s ongoing investigation of the insurance industry. Apart from a widely quoted statement from CEO Nick Prettejohn …
The Director of the Arizona Department of Insurance, Christina Urias, is joining insurance regulators in other states to review allegations of bid-rigging and price-fixing between insurance brokers and insurance companies. Allegations were initially raised by New York Attorney General, Eliot …
Jeff Greenberg The Marsh & McLennan board of directors announced it has accepted the resignation of chairman and chief executive officer Jeffrey W. Greenberg. Stepping in to immediately replace Greenberg is Michael G. Cherkasky, named president and chief executive officer. …
In a brief announcement American International Group said it intends “to seek a prompt resolution of outstanding issues with the Securities and Exchange Commission [See IJ Website Oct. 5 for details] and the United States Department of Justice [See IJ …
New York Attorney General Eliot Spitzer reacted to the decision at Marsh & McLennan Cos. to have CEO Jeffrey Greenberg step down. Greenberg was under fire to resign as Spitzer investigated reported bid-rigging at Marsh and a number of others …
The Chartered Property and Casualty Underwriters Society (CPCU Society) Board of Governors voted unanimously to publicly denounce all practices or systems that violate its code of ethics. In a policy statement issued Tuesday in Los Angeles, the Society’s Board of …
Outside directors of Marsh & McLennan Cos. have sought to negotiate with New York Attorney General Eliot Spitzer in the insurance bid rigging case, a source familiar with the overture said Friday. The source spoke to The Associated Press on …
Massachusetts’ attorney general and the state’s top insurance regulator are separately investigating fee arrangements between insurers and brokers that have led to litigation and subpoenas elsewhere over the past week. Attorney General Thomas Reilly’s office is “using every tool available …
Oregon regulators are investigating potential illegal activity in the state’s insurance industry, after allegations that brokers may have steered business to preferred insurers, in exchange for commissions. The brokers range from community insurance agents to large firms, and the insurers …
