Spitzer Examines Practices at Brokerages

New York Atty. Gen. Eliot Spitzer, who shook up investment banks and mutual funds with investigations into stock research and trading, is examining potential conflicts of interest at insurance brokerages.

Marsh & McLennan Cos., Aon Corp. and Willis Group Holdings Ltd., the world’s biggest insurance brokerages, said they received subpoenas about their practice of accepting payments from both sides of an insurance transaction. A number of brokers are receiving similar requests, Aon said.

Spitzer is looking at whether brokers are violating client relationships by receiving commissions from the insurers with whom they place their clients’ business.