Information Sought as Part of Insurance Industry Probe

Return to Connecticut Insurance Broker Fraud news on SSEM.COM

Insurer Aegon NV said it was summoned to provide information to U.S. prosecutors investigating insurance fraud. Chief Executive Don Shepard said that the Connecticut Attorney General had subpoenaed Aegon to provide information about the company and its operations.

The Connecticut probe is one of a number of spin-offs from the investigation conducted by New York state Attorney General Elliot Spitzer into alleged bid-rigging, whereby insurance brokers are accused of cheating clients by directing them to insurers that provide the biggest commission rather than the best service.

Shepard said Aegon has not received any requests for information from Spitzer's office.

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