Insurers, brokers probed on side deals

Article Abstract:

The Philadelphia insurers, Cigna Corp. and Aetna Inc. has received a subpoena from the New York Attorney General Eliot Spitzer in connection with a probe on side deals between insurers and the brokerage firms that sell their products. The investigation is against so-called contingent commissions and placement-service agreements under which brokers receive extra pay from insurers for steering business to them.

Legal/Government Regulation, Cases, Aetna Inc., AET, Subpoena

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Cigna loses members, but gains profit

Article Abstract:

Cigna Corp. reported a decline in membership in its health plans in 2004 and indicated that the decline would continue in 2005 if competition increased. However, its chief executive, H. Edward Hanway revealed that the company would not cut prices to maintain market share but instead balance cost savings against membership loses.

Securities issued, listed, Membership, Securities, Company securities

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'Mantraps' at city banks nag robbers galore

Article Abstract:

Mantraps are used at some of the banks in Philadelphia to trap robbers. Doors locked by a switch in the bank can trap the robbers in a bulletproof glass vestibule.

Commercial Banks, General services, Police Protection, Robbery, Banking industry, Safety and security measures, Investigations

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