October 25, 2004
Spitzer Probe May Give Push to National Insurance Regulation
Spitzer sued New York-based Marsh & McLennan Cos. on Oct. 14 for allegedly arranging fake bids to steer customers to insurers that paid it the highest fees. Insurers, unlike banks and securities firms, lack a single regulator to impose rules, leaving oversight to 50 state commissioners.
Posted by Tom Troceen