Spitzer Sees Criminal Cases Soon in Insurance Probe

Mon Jan 31, 2005 - WASHINGTON (Reuters) - New York Attorney General Eliot Spitzer told Reuters on Monday that he expects criminal cases soon in his continuing investigation of bid-rigging in the insurance industry and that he is pursing probes of both insurance brokers and carriers.

"There will be criminal cases coming in the near-term," said Spitzer, who announced earlier on Monday that Marsh & McLennan Cos. agreed to pay $850 million to settle charges that it conspired with insurers to rig bids. "We are examining a number of other players in this sector, both brokers and carriers," Spitzer said in an interview prior to speaking at the National Press Club.


Reuters 2005. All Rights Reserved.



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