Business Services Industry
2005's risk management newsmakers.(Spotlight: Year in Review--Risk Management)
Business Insurance, January, 2006
While many may see the probe by Connecticut Attorney General Richard Blumenthal into insurance industry abuses as a me-too move following the 2004 investigations by New York Attorney General Eliot Spitzer, few will disagree that Mr. Blumenthal held his own in 2005. Three months after Mr. Spitzer sued Marsh & McLennan Cos.
Inc. over alleged fraud and bid rigging, Mr. Blumenthal filed his own suit against MMC and ACE Financial Solutions Inc., alleging the broker steered a state workers compensation contract to the insurer for a secret commission. Mr. Blumenthal later settled the case with ACE but amended his complaint against MMC to include charges of bid rigging, price fixing and illegal steering. Not only was Mr. Blumenthal one of the three attorneys general...
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