United increase their control of insurance brokers
The California insurance preparing the national regulatory authority of complaints against several insurance brokers and companies, about the man in the insurance division said yesterday that investigations into the industry intensify.
John Garamendi, insurance commissioner of California, said yesterday that it would be an appeal in connection with the supply and pricing schemes Rigging Eliot Spitzer, the Attorney General of New York. Last week, “says Spitzer Marsh & McLennan, the biggest insurance broker, and had the assurance of society three leaders arrested.
Mr. Garamendi would not go into detail about his plans, but people close to the Division of Insurance said the regulatory authorities is planning to lodge a complaint were not less than a half-dozen brokers across the country and perhaps be a dozen insurance companies.
Appeals should focus on brokers and insurers, dealing with social benefits such as group life and disability and accident insurance corporal by the national and regional companies. Other types of insurance can also appeal.
“It is several companies, both insurance brokers and insurance companies,’’said a person close to the California regulatory authorities.
In San Diego, John Stoia, a partner in the law firm Lerach, Coughlin, Stoia, Geller, Rudman & Robbins, a specialist in securities class actions action, said his company was that of Mr. Garamendi for abusive practices in the insurance sector and whether actions should be sent.
“If we feel, injuries have occurred,”Mr. Stoia, said:” We have a file or several complaints on behalf of the Insurance Division of California wants to stop such practices.”
Late yesterday, Mr. Stoia filed a federal complaint in San Diego accuses national brokerage and to four major insurance companies from participating in “an offer Rigging sophisticated system of false and excessive Geboten’’schaffen appearance for customers of the pressure Competition to offer.
A woman in mediation, Universal Life Resources, said at the disposal of anyone to comment. Regarding a similar but less important suit in California’s Superior Court last Thursday, brokerage, specializes in benefits to workers, refuses to bribe and said it had “done nothing wrong and has nothing to hide.”
Mr. Garamendi also taken steps, began yesterday, the creation of new rules to prevent brokers and agents of conduct for customers of insurance companies to pay bonuses that the greatest but maybe not the best prices and services services to clients.
The rules, the first of its kind in the nation, it is necessary that brokers and agents to clarify, to customers of any form of compensation they receive from all sources of supply and certify that the coverage is the condition is the best available and the best price, sir. Garamendi said.
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