Alea North America Subpoenaed By Spitzer
NU Online News Service, Nov. 30, 1:30 p.m. EST?Alea North America Insurance Company, a New York state domiciled firm headquartered in Wilton, Conn. said it has been subpoenaed in New York Attorney General Eliot Spitzer's inquiry into broker fees.[@@]
Alea North America, a subsidiary of Alea Group Holdings in Bermuda, said in addition to the attorney general's subpoena, insurance departments from various states have asked the company for information along with Alea North America Specialty Insurance Company.
The company said the states requesting information were Delaware and North Carolina.
According to the insurer the subpoena and requests relate to the "ongoing industry-wide investigations into U.S. broker and agent compensation agreements. Alea will cooperate fully with these authorities."
Alea announced the subpoenas Nov. 24. The company is a global specialty insurance and reinsurance company with expertise in a wide range of property and casualty products and services.
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