Two insurance brokers have revealed they have been subpoenaed in the ongoing investigation of contingency fees by New York Attorney General Eliot Spitzer.
Cleveland-based CBIZ Benefits & Insurance Services of Ohio said its subsidiary, CBIZ Benefits & Insurance Services Inc., has received a subpoena from New York's attorney general requesting information about broker compensation. The announcement was made in a press release on Friday.
Greater Bay Bancorp, a financial services firm based in East Palo Alto, Calif., said its subsidiary, ABD Insurance and Financial Services, received a subpoena from Mr. Spitzer's office on Oct. 20. It said the firm has received requests for information from several state insurance commissioners in the past.
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