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November 09, 2004

Insurance chief warns of Spitzer investigation 'global impact'

New York attorney general Eliot Spitzer's probe into practices in the insurance industry will have an effect well beyond America, Aon chairman and chief executive Patrick Ryan predicted yesterday.

Mr Ryan told an Association of Lloyd's Members conference in London that the issue was "much bigger than a US and UK issue. It is a worldwide issue". Asked about Mr Spitzer, Mr Ryan said: "He's done some very good things. It is not a happy day for our industry but a good thing.

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Posted by Tom Troceen