Insurance Probe Widens as Investors Flee

[Career Prole]

NEW YORK (Reuters) - The New York attorney general's nascent but expanding probe into bid-rigging on Tuesday threatened to envelop the entire U.S. insurance industry, unnerving investors unsure how far Eliot Spitzer might go.

Shares of U.S. insurance and HMO companies comprised most of the biggest decliners on the New York Stock Exchange, as it became evident Spitzer's investigation has moved beyond property and casualty insurers and brokers, and now also covers life and medical insurers.

At least two other states, Connecticut and Pennsylvania, are studying Spitzer's lawsuit last week against New York-based insurance broker Marsh & McLennan Cos. for allegedly rigging bids from insurers, and inflating costs for clients.
http://story.news.yahoo.com/news?tmpl=story&u=/nm/20041019/bs_nm/financial_insurers_dc

[Infomaniac]

1. Go Elliot!

The federal government isn't interested in keeping big corporations honest so it falls to state AGs like Elliot Spitzer. Spitzer exposed the mutual fund industry for the Ponzi-like scheme that it is and is now taking on the insurance industry. Go Elliot!

[IChing]

2. Insurance companies

This a great help from Elliot to Kerry, "bush supports
the insurance companies and not the common people
type speech" and here's proof they're corrupt
Our new attorney general

[wishlist]

3. Great- Industry companies to blame for high costs, not just lawsuits

"Spitzer's investigation has moved beyond property and casualty insurers and brokers and now also covers life and medical insurers"

About time someone looked into issues that affect insurance costs besides their allegation that it is lawsuits by trial lawyers and malpractice settlements.

[KlatooBNikto]

7. When you have just ripped off someone bigtime, it always helps to

point the fingers at someone else.

[happynewyear]

4. Marsh & McLennan

Marsh & McLennan - found these fuckers in my portfolio *shock*!

I sold this a.m. BYE BYE!!!!!

NO THANK YOU YOU LYING PERVERTED SOBs!!!!!

:dem: :kick:

[Media_Lies_Daily]

5. As a former insurance agent, I hope Spitzer rips 'em a new one.

[burythehatchet]

8. what did you do in the insurance bidness?

I'm a former broker and current RM consultant in the senior care industry.

[Career Prole]

6. Edited to add the link...sorry! n/t