Zurich pays for impropriety
Zurich Financial Services has come to an agreement with New York Attorney General Eliot Spitzer and ...
Zurich Financial Services has come to an agreement with New York Attorney General Eliot Spitzer and State Insurance Department Superintendent Howard Mills to resolve allegations of bid-rigging and improper 'finite reinsurance' transactions. Zurich will pay $153m (£87.9m) in restitution and penalties, and adopt a series of sweeping reforms. In addition, Zurich has issued an apology acknowledging its improper conduct.
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