Insurance in the dock
Eliot Spitzer’s latest target in his unrelenting quest to clean up the financial services industry is the insurance sector. Spitzer’s investigation into various malpractices at broker Marsh & McLennan has implicated some of the US’s biggest insurance companies and shaken confidence in the sector. Saskia Scholtes reports
Another month, another financial services industry shaken to its foundations by New York’s attorney general Eliot Spitzer. Two years ago, Spitzer rummaged through emails from Wall Street research analysts to find that they had intentionally touted stocks to win investment banking business. Spitzer then rocked the mutual fund industry with allegations that fund managers were cutting special deals for their largest clients and hurting average investors in the process. And after a brief
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