Insurance Post

The SPITZER spectacle

In October 2004, New York attorney general Elliot Spitzer stunned the market by announcing that he was carrying out a probe into the way that the (re)insurance market carried on its business, specifically looking at areas like contingent commissions, finite reinsurance and the rather murky world of fees. By doing so, he opened up a Pandora's box that has had the (re)insurance industry reeling ever since.The initial stages of the investigation imputed an allegation of impropriety to Marsh and