Word: brokering
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Spitzer Strikes The New York Attorney General goes after America's largest insurance broker...
...wasn't the first time that Cendant brass had been rebuffed by one of their own. Tom Kunz ran a San Diego office of another Cendant franchise, Century 21, before his promotion to CEO of the real estate firm, and while he was a broker he rejected company appeals to spurn online referrals. Why? Sharing listings with the likes of Lending Tree. com generated enough leads to offset the pain of having to share commissions...
...America's biggest companies. Now Spitzer is taking on the insurance industry, and European firms are affected. Spitzer's first target was New York City-based insurance broker Marsh & McLennan, which he accused of misusing "contingent commissions," the fees paid by an insurance company to a broker for steering business its way. Marsh says it has been cooperating with Spitzer's investigation since the spring and has stopped taking the controversial payments. But last week it became clear that Spitzer's net had snared U.S. branches of Netherlands-based ING Group, British broker Benfield Group and Germany's Munich...
WHEN JACK and Jaye Hickey decided to sell their classic six-bedroom, Cape Cod house on the 17th tee of the Skokie Country Club, in Glencoe, Ill., they counted on the usual headaches. Open houses, listing agents and a broker's fee are par for the course...
...Broken promises? New York State Attorney General Eliot Spitzer sued U.S. insurance broker Marsh & McLennan Companies, alleging it directed unsuspecting clients to insurers in exchange for lucrative payoffs...