Financial Services Industry
Industry: Email Alert RSS FeedSenate eyes brokerage fees.(Nov. 16 Hearing)
National Underwriter Property & Casualty-Risk & Benefits Management, November, 2004 by Postal, Arthur D.
INSURANCE BROKERS WILL be forced to defend their compensation practices at a U.S. Senate hearing on Nov. 16 examining bid-rigging investigations led by New York Attorney General Eliot Spitzer. The hearing was scheduled by a Governmental Affairs Subcommittee headed by retiring Sen. Peter Fitzgerald, R-Ill.
An array of state attorneys general, industry trade groups, insurance commissioners, a leading consumer advocate and a fellow of a conservative think tank who has been highly critical of Mr. Spitzer's probe are among those invited to testify. A staff official at the Financial Management, Budget and International Security Subcommittee of the Governmental Affairs Committee confirmed that the hearing will be held. A staff official of Sen. Fitzgerald was...
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