The courts dealt the insurance industry two huge blows in the past few days, with brokers and top carrier executives convicted in separate trials–one having to do with bid-rigging, the other with cooking the books via a sham finite reinsurance deal. Any way you look at it, the reputation of the business for honesty and integrity took a real beating, and the feds might yet have bigger fish to fry.

On Friday, as reported by Phil Gusman, two former Marsh executives were found guilty in New York State Supreme Court of a felony monopoly charge for bid-rigging. (Click here for the full story.)

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