UPDATE 1-Spitzer tells insurers to cease placement fees


(Adds comments by industry spokesman) NEW YORK, Nov 30 (Reuters) - New York Attorney General Eliot Spitzer said on Thursday that his office told four large U.S. insurers they must stop paying contingent commissions to agents and brokers selling automobile, homeowners and other insurance. The notices stem from settlements reached earlier this year by Ace Ltd. , American International Group Inc. , St Paul Travelers Companies Inc. and Zurich Financial Services with Spitzer's office. ...

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