Here is a story that will not get a lot of press from other bloggers, especially the conservative, insurance company oriented bloggers. AIG has agreed to settle charges of price fixing. This may come down as the biggest settlement in financial services history.
Funny that this story came down this week. I was just having this discussion with a client of mine. While this primarily effects businesses, it will be interesting to see the fallout, since AIG writes a lot of auto insurance policies in California.
Kudos to NY Attorney General Spitzer. Maybe our state insurance commissioner will stop grandstanding and running for offices and start protecting Californians.