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Hurricane Spitzer Hammers Brokers, Carriers

Allegations of bid-rigging, fee abuse undermine p-c industry, spurs reforms

Natural catastrophes can be devastating, but insurers generally pay off their claims and move on. However, one man-made disaster has shaken the property-casualty industry to its core, undermined its credibility and prompted calls for fundamental changes in the way brokers and insurers do business.

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