New York Insurance Superintendent Howard Mills--in an apparent jab at the state's crusading attorney general, Eliot Spitzer--has formed a unit to examine corporate practices without "politics" corrupting the process.
The Republican appointee, speaking here at the World Insurance Forum, said insurers should welcome having an insurance regulator "looking at these issues and handling them, [rather] than an attorney general, where politics can enter into the mix."
Mr. Spitzer--an elected Democrat whose investigations of insurers and brokers has secured billions in settlement monies after probes into commercial insurance bid-rigging, contingency fee kickbacks, steering and phony accounting of reinsurance deals--is seeking his party's nomination for governor.
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