Connecticut issues citations for insurers
The new efforts to study the insurance industry yesterday that the Attorney General of Connecticut exposed to large citations health insurance funds and providers of services to workers and self-assurance. Officials and California took steps taken to the end of what the regulatory authorities of fraudulent practices in the insurance brokerage. Advertisement
In Connecticut, Aetna of the Fatherland, one of the greatest nation of Sickness Funds and a basis for Cigna and Anthem, Richard Blumenthal, attorney general, said he was seeking details of rigging Prices and pricing, including brokers, agents and health care and auto insurance.
“It is important to assembling and information justifies an intensification of efforts investigation,’’said Blumenthal.
In California, John Garamendi, insurance commissioner, said he planned to submit a proposal for a regulation today to require brokerage in its entirety, disclose fees. The state regulation would be the first official measure to change how the industry has worked since Eliot Spitzer, New York, the Attorney General, said last week that tax incentives were created for brokers “Korruption” widespread in the industry.
Mr. Spitzer investigation develops, and investigators say they are now on social security benefits and auto insurance after initially focusing on commercial insurance. But while some companies, sell these two benefits for employees and health insurance, Aetna, have received subpoenas, M. Spitzer’s investigation M. Blumenthal seems a new path, focusing on health coverage.
Mr. Blumenthal would not name the companies, it had designated for the provision of information, but he said he was “looking for evidence of supply Rigging, pricing, any activity wettbewerbswidrige”unter insurers, their brokers and other “and we have few clues to let you invade.”
A spokesman for Aetna, David Carter, said that, with effect from the end of yesterday, he did not receive a summons.
Expresses concern that the regulatory authorities have their homes to health insurance rattled the stock market yesterday. The share of health insurance has fallen: United Health Group fell more than 9 percent to $ 66.50; Aetna were 12 percent to $ 86.17 and Cigna fell by 10 percent to $ 59.73. Stock prices of major insurance brokers to continue their film. Marsh & McLennan has fallen 5.7 per cent, another closing price yesterday at $ 24.10. Marsh’s stock price collapsed, 48 percent over the four days, given that Mr. Spitzer announced an action against the company. Shares of Marsh’s rival, Aon, fell 9.7 percent to $ 19.20. The head of the insurance industry, American International Group, fell also, as regards the Dow Jones Industrial Average lower. The action of the A.I.G. east fell 3.3 percent to $ 57.70.
Tax incentives to brokers, known as placement service or success fee agreements, are the heart of Mr. Spitzer’s suit. Last week, Marsh said it would stop these payments, and two insurers AIG and Ace of Bermuda, said they would not be any more as a party to these regimes.
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