Disability Insurer Signs ‘Model’ Pact With Spitzer Over Commissions

November 3, 2006

  • November 3, 2006 at 9:13 am
    David says:
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    Who got the $3 billion? and, where is the jail time for the bid-riggers?

    Some settlement – pay me money and you can stay out of jail!

  • November 3, 2006 at 4:17 am
    County Line says:
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    ……and while we\’re disclosing our earnings to the clients why don\’t we just throw in our tax returns, financial statements and underwear size?

    Thanks to you big-time bid riggers and your industry accomplices, all the guys in the white hats get burdened with YOUR GARBAGE. As industry leaders you had the responsibility to uphold ethics, not skirt them. There is so much money to be made ethically that it is beyond belief you would let your greed drag you and the rest of us honest folks into the gutter.

    Concerning the $3 Billion, you can be sure the truly deserving will see little if any. But The State is very hungry you know……..

  • November 4, 2006 at 1:27 am
    LG says:
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    Seems that Insurance Industry caves into whatever, even throwing the baby out with the bath water. Agree fighting Spits is costly then caving in, but there are also principal’s involved.

    Spitzer is a Political Bully and is not a friend of anyone except himself and that maybe in question.

    Their were suspect arrangements and commission schedules in the P&C and in the Life Industry for many years and needed to be corrected. Most small Independent Brokers saw their hard work go down the drain when anyone of the Big 3 or 4 stepped in and got pricing from the same Underwriter you were dealing with. Except they used another Branch office to beat the local small broker Premium Quote. The right thing would have been to force the Nat’l Broker to split 50/50 for the life of the account.

    Spitzer is not good for any industry but could be; if he only had the public’s best interest at heart. He doesn\’t, only his own Political future and that makes for a very bad combination of so called good doer\’s. SELF INTEREST FOR FUTURE INCENTIVES.



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