National News
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AIG Pays $12.5M to Settle with States Over Bid-Rigging Allegations
National News • January 29, 2008
American International Group, Inc. (AIG) confirmed today that it has reached settlements with nine states and the District of Columbia relating to their investigations into alleged bid-rigging and ...
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| Subject | Posted By | Posted On |
|---|---|---|
| RE: Question | tom | Feb 7, 2008, 5:42 pm |
| RE: International Legal Perspective - Just a thought | tom | Feb 7, 2008, 5:37 pm |
| Excess Casualty | global1 | Jan 30, 2008, 2:48 pm |
| Question | ad | Jan 30, 2008, 2:20 pm |
| International Legal Perspective - Just a thought | global1 | Jan 30, 2008, 12:45 pm |
| RE: Continued Attorney General Extortion of Broker Money | Tom | Jan 30, 2008, 9:08 am |
| Continued Attorney General Extortion of Broker Money | anon | Jan 29, 2008, 3:19 pm |
| Back to article | ||
Subject: Question
"..., AIG and several of its insurance subsidiaries allegedly conspired with Marsh and other brokers by submitting fake bids to create the illusion of a competitive bidding process in the excess casualty commercial insurance market."
I believe in brokerage commissions, but this does appear unfair and unscrupulous.
I'm not totally naive. I do not believe the attorney general is going after the money because he cares about the consumer, but I do question this practice.
Anyone out there who can honestly fill me in?