Spitzer probe draws Feds' attention: Congress asks CIAB for info on insurance brokerage industry operations.(D.C. Responds)(Council of Insurance Agents)

National Underwriter Property & Casualty-Risk & Benefits Management, October, 2004 by Postal, Arthur D.

CONGRESS MAY BE PREOCCUPIED with Election Day politics, but those on Capitol Hill considering federal regulation of insurance were not too busy campaigning to notice New York Attorney General Eliot Spitzer's explosive charges of insurance brokerage price-fixing. Indeed, a broker lobbying group has already been asked by Washington lawmakers to provide information on the industry.

However, at this point no hearings on the controversy have been scheduled this year, even if a lame duck session of Congress is held in mid-November. The congressional inquiries were disclosed by Joel Wood, senior vice president of government affairs at the Council of Insurance Agents and Brokers in Washington, whose membership includes most of the large brokerages that are the...

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