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11/17/2004: Senate Hears of Insurance Misdeeds: State Officials Outline Early Findings of Bid-Rigging Inquiries (The Washington Post; subscription may be required)
Excerpt: Preliminary investigations in New York, Connecticut and California suggest that insurance companies frequently pay insurance brokers and agents undisclosed compensation -- including cash, loans, stock and exotic trips -- for steering health, automobile and other retail insurance business to them, state officials told Congress yesterday. The practice may have cost insurance customers hundreds of millions of dollars in overpayments in recent years and caused them to purchase[.]
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