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Acordia Sued Over Fees By W.Va.

NU Online News Service, 2:35 p.m. EDT--West Virginia's Attorney General Darrell McGraw has sued insurance broker Acordia claiming the broker received millions of dollars ...

By Mark E. Ruquet | Updated on February 04, 2005

NU Online News Service, 2:35 p.m. EDT–West Virginia’s Attorney General Darrell McGraw has sued insurance broker Acordia claiming the broker received millions of dollars in “hidden” contingent commissions in return for steering business to certain carriers.

The suit against Chicago-based Acordia, and Acordia of West Virginia Inc., claims that the payments “were unfair and deceptive and resulted in less competition for insurance,” the attorney general’s office said in a statement.

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