Spitzer warns Senate committee of further insurance company investigations

[JURIST] New York Attorney General Eliot Spitzer, who launched an investigation into insurance companies including Marsh & McLennan, told the Senate Governmental Affairs Committee Tuesday that more criminal pleas related to bad practices are coming. Spitzer is urging Congress to take a stronger look at the insurance industry. Connecticut Attorney General Richard Blumenthal told the committee that state insurance laws should be redone to combat fraud, illegal steering and bid-rigging and that whatever legislation Congress proposes should not weaken state regulation. Insurance companies are in support of legislation which would create a uniform standard for the entire industry. View the Senate Governmental Affairs Committee hearing information here. Read a transcript of Spitzer's testimony to the committee here [PDF]. AP has more.

 

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