Settlement announced with 3 insurance firms

Mon Apr 28, 2008

SAN DIEGO COURTS: Officials with the District Attorney's Office announced yesterday a $1.1 million settlement with three of the nation's largest insurance firms, which were accused of unfair competition.

Prosecutors said the firms were making undisclosed payments to Universal Life Resources, a Carmel Valley-based insurance broker, in exchange for business being sent their way. The brokerage firm worked with large businesses seeking life, disability and health insurance policies for employees.

The insurance firms named in judgments filed yesterday in San Diego Superior Court were Metropolitan Life Insurance Company of New York (MetLife); Prudential Insurance Company of America, Newark, N.J.; and Unum Insurance Company of Maine.

Source : http://www.signonsandiego.com