Wednesday, November 17, 2004

Spitzer Insurance Probe Possibly Broadens

Today's Chicago Tribune reports that two senior underwriters at Zurich American Insurance Company pleaded guilty to criminal antitrust charges in New York Supreme Court.   While testifying before a Senate subcommittee yesterday, Spitzer indicated that he might widen the probe to include consumer insurance transactions. As summarized in The Tribune:   "Corruption in the insurance industry, Spitzer told the Senate Governmental Affairs subcommittee, extends beyond the practices of brokers and large corporate clients into areas of personal insurance for health, property casualty and workmen's compensation. "

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