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Two major insurance companies named in New York State Attorney General Eliot Spitzer's investigation into questionable sales practices have discontinued the use of incentive fees, which are at the center of the probe. ACE Ltd. said it was halting the use of "placement service agreements," also known as contingent commission or market service agreements. A spokesman for American International Group Inc. confirmed that the company, too, had stopped using incentive fees.
October 19, 2004 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
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