Return to Insurance Broker Fraud homepage on SSEM.COM
American International Group recently said it received subpoenas seeking information on its nontraditional insurance products and reinsurance transactions...
Aon Sets Aside $50 Million for Settlements
Aon Corp.'s top executives recently acknowledged the company could be liable for more than the $50 million set aside to settle state investigations into insurance broker practices, but they maintained no evidence has been found of bid-rigging or fraud...
Marsh Settlement Is Tax Deductible?
Marsh & McLennan Cos. Recently agreed to an $850 million settlement of bid-rigging charges with New York state regulators, but the company looks likely to end up paying a lot less thanks to a tax deduction that could shave hundreds of millions from the headline figure...
NAIC Now Has Online Fraud Reporting
The National Association of Insurance Commissioners now has an online insurance fraud reporting system for consumers who suspect fraudulent activity...
Study Finds Possible Steering In Consumer Insurance Sales
new consumer study finds widespread use of payments to insurance agents who steer customers to certain home and auto insurers, generating the same potential conflicts as those alleged by New York Attorney General Eliot Spitzer in the commercial insurance arena...
NAIC Adopts Model for Insurance Broker Disclosures
The National Association of Insurance Commissioners (NAIC) has adopted model legislation that would implement new disclosure requirements designed to ensure consumers are provided the information necessary to understand the manner in which brokers are compensated for the sale of insurance products...
Insurer ACE Ltd., based in Bermuda, said that Susan Rivera, CEO of its big U.S. property-casualty insurance operations has resigned...
GE Insurance Unit Says It Gave Marsh Inflated Quotes
Employers Reinsurance Corporation (ERC), a unit of GE Insurance Solutions, said it had given an insurance broker inflated price-quotations, making it the first company to report finding problems related to bid-rigging that was not already implicated in lawsuits filed by New York Attorney General Eliot Spitzer...
Employees Suspended by Zurich in Insurance Broker Investigation
Several employees have been suspended by Zurich Financial during an internal review into practices with insurance brokers, according to Reuters...
Bid-Rigging Investigation Forces Marsh & McLennan to Eliminate 3000 Jobs
Marsh & McLennan Companies Inc. said on tuesday that would be forced to lay off 3000 employess as it is struggling to deal with fallout from the bid-rigging investigation initiated by New York Attorney General Eliot Spitzer...
Fallout Continues as More Insurance Executives are Fired
The fallout from Eliot Spitzer's insurance broker fraud investigation into bid rigging and kickbacks continues as executives from several of the firms accused in the complaint are fired...
Jeffrey W. Greenberg Resigns as Chairman and CEO of Marsh & McLennan Companies, Inc.
The Marsh & McLennan Companies, Inc. Board of Directors has accepted the resignation of chairman and chief executive officer Jeffrey W. Greenberg...
Florida Attorney General Subpoenas Marsh & McLennan and 9 Other Firms
Attorney General Charlie Crist today issued subpoenas to 10 insurance brokers and anticipates issuing additional subpoenas to at least 6 insurance companies next week. The subpoenas seek documents and records pertaining to the business practices of these companies including questionable fee arrangements and possible bid-rigging...
The Illinois Department of Financial and Professional Regulation (IDFPR), Division of Insurance announced today it is asking for help from Illinois consumers who have concerns about their business dealings with insurance brokerage firms...
Arizona Insurance Director Reviews Broker Practices
The director of the Arizona Department of Insurance (ADOI), Christina Urias, is joining insurance regulators in other states to review allegations of bid-rigging and price-fixing between insurance brokers and insurance companies...
Oregon is joining insurance regulators in other states to look into allegations of bid-rigging, price-fixing, and payoffs involving insurance brokers and insurance companies...
If you purchased insurance through or were a stockholder in any insurance broker, even if not listed above, please use the form below to contact our law firm for a free consultation to determine if you have a claim as a result of purchasing overpriced insurance.
Copyright © 1999-2008 Specter Specter Evans & Manogue, P.C.
Terms of Use | Privacy Policy
