California Regulator Ready To Sue Brokers NAIC forms committee to address bid-rigging, contingency fee-related allegations

California Insurance Commissioner John Garamendi will follow New Yorks lead and file a civil action as part of his campaign against brokerage fee irregularities.

Mr. Garamendi said he will file the lawsuits this week, but would not disclose particulars. He made his announcement during a press conference where he outlined proposed new state rules designed to counter illicit fee arrangements.

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