Insurance Probe Extended to Worker Benefit Policies ; Concealed Payments Illegal, New York Ag Claims

Summary

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ALBANY, N.Y. - A California-based company that brokers life, accident and disability policies for leading U.S. companies pocketed millions of dollars a year in hidden payments from insurers and from charges on clients' unsuspecting workers, New York Attorney General Eliot Spitzer charged Friday.

A civil suit filed by Spitzer in state Supreme Court in Manhattan contended that the activities of Universal Life Resources of San Diego raised the cost of insurance for workers who contributed to coverage they secured through employers.

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Insurance Probe Extended to Worker Benefit Policies ; Concealed Payments Illegal, New York Ag Claims

ULR has brokered coverage since 1999 for 4 million employees of companies including Intel Corp., Eastman Kodak Co., Colgate- Palmolive Company, Marri...

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