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New York attorney general sues California insurance broker for alleged payoffs.
Knight Ridder/Tribune Business News, November, 2004
By Diane Levick, The Hartford Courant, Conn. Knight Ridder/Tribune Business News
Nov. 13--New York Attorney General Eliot Spitzer sued a California insurance broker Friday for allegedly taking payoffs to steer clients to certain insurers while shutting out other companies, such as Aetna, that would not pay such bonuses.
In an expanding probe, Spitzer's second suit confirms he is targeting group life and disability insurance, accusing broker Universal Life Resources Inc. of fraud that raised premiums for employers and workers.
Also Friday, a spokesman for California Insurance Commissioner John Garamendi said his department plans to file its own lawsuit Monday against Universal in Superior Court in San Diego.
Spitzer last month...
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