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Liberty Mutual Opts to Fight, Not Settle, Charges Over Contingent Commissions, Account Steering

National News • May 7, 2006
Unlike American International Group, Zurich, ACE and other insurers that have settled similar charges, Liberty Mutual Insurance Group has decided to fight allegations of anti-competitive practices ...

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Subject: Prakash and Moral Ambiguity

Posted On: May 8, 2006, 3:14 pm CDT
Posted By: non-captive agent
Comment:
Prakash--I agree with your point. I cannot as an individual reconcile these frames of reference. When the frames of reference are out of alignment, there is chaos. When there is chaos, there is opportunity for theft on a massive scale. It is the responsibility of insurance company managements to align the frames of reference and not dump on employees by failing to do this, pressuring them regarding their future and very career, blaming them and profiting thereby while making out like bandits.

Yes, the time is out of joint...and no individual Hamlet in such an insurance company today is going to fare much better than the original Hamlet. Look at your own comments--you are clearly pre-judging the employees. It is time also to look to the top. Hold them accountable. Do it in court. Subpoena documents. See if there is evidence of destruction of evidence. See if the illegal acts were directed from the top with a careful avoidance of a paper trail--e.g. phone calls, personal meetings. The first rule of every executive these days is "Put nothing in writing." The higher up they are the less you will ever see in writing from them. They and their lawyers learned this some years ago, although some are still poorly advised or careless. And don't stop with the publicly held brokers--many of the privately held large brokers also deal with Liberty. Liberty's intransigence could be the opening wedge to deal with this so far unaddressed problem area. Commodotize all stake-holders...

The stakes may end up being higher than Liberty has imagined. I look forward to following this trial in Insurance Journal and other sources. I hope it is a long, messy and revealing trial, whatever the outcome. Some truth will out in the end.
Subject Posted By Posted On
RE: Liberty Mutual LS
May 10, 2006, 8:39 am
Liberty Mutual Small Agent
May 8, 2006, 4:13 pm
Prakash and Moral Ambiguity non-captive agent
May 8, 2006, 3:14 pm
RE: Liberty Management and its employees ric
May 8, 2006, 2:36 pm
RE: Liberty Management and its employees Prakash V. Naor
May 8, 2006, 2:27 pm
RE: Hooray for Liberty Mutual Southern Agent
May 8, 2006, 1:52 pm
Liberty Management and its employees Non-captive agent
May 8, 2006, 1:10 pm
How can NY&CT reach outside their states legally challenged
May 8, 2006, 12:53 pm
About time edistocreek
May 8, 2006, 12:44 pm
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