ERC joins ranks of admitted "bid rigging" cos.

A five-week internal investigation carried out by Employers Reinsurance Corp. (ERC) has revealed "a limited number of isolated issues" that could pertain in the ongoing Spitzer investigation into questionable business bidding practices within the insurance industry. The "issues" in question involve one current and one former employee of ERC with regard to business quotations presented by request to brokerage Marsh & McLennan. ERC notes that it has voluntary reported these issues to the New York Attorney General’s Office (AG), although the company was recently subpoenaed in conjunction with the AG’s probe into broker compensation arrangements. "ERC is cooperating fully with the Attorney General’s Office and state regulators," a company statement says.