Another Subpoena For St. Paul Travelers

By Michael Ha

NU Online News Service, Dec. 10, 12:16 p.m.EST?The St. Paul Travelers Companies Inc. revealed todaythat it has been subpoenaed in New York Attorney General EliotSpitzer's industrywide inquiry concerning underwriting of lawyers'professional liability insurance.[@@]

The St. Paul, Minn.-based St. Paul Travelers, the country'ssecond-largest business insurer, also said it may receive similarrequests for information from other government or regulatoryauthorities and will cooperate fully with all such requests.

St. Paul Travelers is the fifth insurer to report receiving aNew York subpoena. The Hartford, Arch Capital Group Ltd. andAmerican Financial Group all have received requests for informationconcerning underwriting practices for legal malpracticeinsurance.

St. Paul Travelers previously had received a number of subpoenasrelated to ongoing probes by officials in various statesinvestigating a variety of industry practices.

St. Paul Travelers revealed last month that it receivedsubpoenas and requests for information from the Office of the NewYork State Attorney General, the Office of the Connecticut StateAttorney General and the Office of the Minnesota AttorneyGeneral.

Attorneys general from these three states requested documentsand sought information relating to the conduct of business betweeninsurance brokers and The St. Paul Travelers and itssubsidiaries.

The St. Paul Travelers also has received similar requests forinformation, from the North Carolina Insurance Department as wellas from the Illinois Department of Financial and ProfessionalRegulation Division of Insurance.