Auto Insurance Problems

Mar 14, 2005
Contributor: Jessie Divito

Home, auto insurance problems also seen:

Problems extending to home and auto insurance also are coming to light from documents relating to insurance broker Aon, the New York Times said Monday.

The documents were released Friday as part of Aon's $190 million settlement with attorneys general in New York, Connecticut and Illinois.

The Times said they provide details of what investigators say were improprieties in the sale of insurance on homes and automobiles, in addition to commercial insurance.

Aon had focused its sales of personal auto and home insurance to wealthy Americans and owners of businesses that came to it for commercial coverage, the report said.

But from 1999, the documents show, Aon steered personal auto and home coverage to the Chubb Corp.and Fireman's Fund, which shared the cost of the salaries of some brokers with Aon and also paid bonuses for increased business, the report said.

Aon CEO Patrick G.Ryan said he disagreed with "a number of interpretations and conclusions" in the documents.



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