Insurer Hartford Financial Services has received a subpoena from New York Attorney General Elliott Spitzer seeking information related to its underwriting of professional malpractice insurance for lawyers and law firms. Connecticut-based Hartford Financial is the third insurance company Eliot Spitzer has subpoenaed on the matter.
American Financial Group says its property and casualty insurance unit has also received a subpoena from Spitzer’s office concerning legal malpractice insurance. On Friday, insurer and reinsurer Arch Capital Group Ltd of Bermuda also said it had received a subpoena from Spitzer’s office concerning its underwriting activities “with respect to insurance coverage to lawyers and law firms for acts of professional malpractice.”
Back in mid-November, Hartford Financial said it received subpoenas from the attorneys general of California and Florida relating to its insurance broker compensation practices.
Numerous insurance companies, and the brokerage firms that steer customers to them, have been subpoenaed by several states in an investigation of bid-rigging and other alleged misdeeds.