Spitzer Takes on Insurance Industry

New York State Attorney General Eliot Spitzer, who has made a name for himself investigating the way in which financial services firms do business, is now taking on the insurance arm of the industry.

In mid-October, Spitzer sued Marsh & McLennan Cos., one of the country's leading insurance brokerage firms, for fraud and antitrust violations, charging that Marsh cheated its corporate clients by rigging bids and sending business to insurers with whom it had payoff agreements.

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