NY's Spitzer tells insurers to cease placement fees

Newswire

NEW YORK, Nov 30 (Reuters) - New York Attorney General Eliot Spitzer said on Thursday his office told four large U.S. insurers they must stop paying contingent commissions to agents and brokers that sell automobile, homeowners and other insurance. The notices stem from settlements reached earlier this year by Ace , American International Group , St Paul Travelers and Zurich Financial Services with Spitzer's office. Officials from these companies were not immediately available. The ...

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