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Progress Report on Spitzer Insurance Lawsuits

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At a glance:

This article gives a brief status report on one of the lawsuits filed by NY Attorney General Eliot Spitzer against insurance companies and brokers.
 
The charges involved bid-rigging and fraud.
 
Settlements have been reached in some of the cases and are expected in others.
 
Prudential is one of the companies named.

Spitzer nearing more insurance settlements

Reuters - 3/10/2006 6:39 PM

New York Attorney General Eliot Spitzer is in the late stages of talks with a number of U.S. and foreign insurers and brokers resulting from a two-year probe into bid-rigging and fraudulent use of finite insurance, a person familiar with the situation said on Friday.
 
Spitzer's Marsh suit alleged that a number of insurers participated in bid-rigging schemes by paying contingent commissions to secure underwriting business, or submitting bids it knew were too high so that a favored insurer could win business without a co
 
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