(by Ameli Berksman)

The New York State Attorney General Eliot Spitzer does not give up in investigating the U.S. insurance industry.
Eliot Spitzer said he had an option to watch carefully U.S. corporations and their employees in terms of life, disability and accident payments.

Spitzer called contingent commissions the ones that failed to help corporate clients in getting the best prices on property and casualty policies.

Amid his investigation, the world’s top insurance group Marsh & McLennan said the contingent commissions were 7% from 2003 total revenue, or $845 million.

Marsh & McLennan also said it got as much as $1.2 billion in incentive payments within the past 18 months. Cut of the fees will definitely lead to decreased operating income.

Eliot Spitzer claimed the company has been seeking for fake quotes from some insurance companies in an effort to give commercial customers the false impression of a competitive bidding process.