Spitzer Subpoenas Mount In Bid-Rigging Probe Nine carriers queried by N.Y. attorney general about alleged price-fixing, fee abuse

The St. Paul Travelers Companies and Liberty Mutual became the eighth and ninth insurers to receive subpoenas from New York Attorney General Eliot Spitzer in his widening probe of alleged broker-insurer price-fixing.

Meanwhile, one industry expert said the fallout from the investigation could well be damaged bottom lines and job losses for brokerages, as well as much more aggressive shopping by buyers in the Jan. 1 renewal season.

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