For those in the life insurance industry who thought they could sit on the sidelines and watch New York Attorney General Eliot Spitzer go after some big property/casualty heavyweights, think again. According to reports on Friday, MetLife and other group …
New York Attorney General Eliot Spitzer on Oct. 14 sued Marsh & McLennan Companies, the nation’s biggest insurance brokerage firm, alleging that it steered clients to insurers with whom it had lucrative contingency agreements, and solicited rigged bids from major …
New York Attorney General Eliot Spitzer and State Insurance Superintendent Gregory Serio announced guilty pleas to two separate indictments by owners of several ambulette companies for submitting fraudulent transportation bills to insurance carriers. The schemes reportedly involved false billings that …
New York Attorney General Eliot Spitzer announced that a Nanuet psychiatrist has been charged with defrauding government insurers of more than $1 million by billing for services never rendered. Dr. Justin Psaila, who maintains a private practice at his residence, …
Three more insurance companies said they have received subpoenas from New York State Attorney General Eliot Spitzer seeking information on the way brokers are paid. Hartford, Conn.-based Aetna Inc., Philadelphia-based Cigna Corp. and MetLife Inc., of New York, announced they …
The Chubb Corporation in Warren, N.J. has received a subpoena seeking information regarding certain compensation agreements between insurance brokers and Chubb’s insurance companies from the New York Attorney General Eliot Spitzer. Chubb said it will fully cooperate with the inquiry. …
The Council of Insurance Agents & Brokers commented that Placement Service Agreements (PSAs) between commercial insurance brokers and the insurance carriers with which they do business are not an issue of concern in the industry. New York Attorney General Eliot …
Marsh& McLennan, Willis Group and Aon Corporation have confirmed that they have received subpoenas from New York Attorney General Eliot Spitzer. The subpoenas are seeking information as part of a preliminary inquiry into compensation agreements between insurance brokers and insurance …
Warren Buffet may be only the second richest man in the world (around $36 billion), but he gets almost as much attention as Bill Gates in the number one spot. His annual letter to the shareholders of Berkshire Hathaway has …
The Securities and Exchange Commission has launched a probe into possible market timing related violations by The Netherlands two insurance and financial services giants ING Group and Aegon. According to news reports from Reuters and Dow Jones Newswires, the two …
