MetLife Settles Insurance Probe For $19M

Law360, New York (January 2, 2007, 12:00 AM EST) -- The largest life insurer in the United States will pay $19 million and change business practices as part of a settlement regarding contingent commissions that will stand as one of Eliot Spitzer’s final acts as New York’s attorney general.

Spitzer’s investigations into deceptive practices by insurance companies have brought several reforms in the industry and helped catapult him to the state’s governorship, for which he took office on Monday.

Metropolitan Life Insurance Company will pay $16.5 million to policyholders and $2.5 million in civil penalties to...
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