Life Insurance Quote Overview

A Massachusetts attorney says the insurance industry is falsely claiming a "litigation crisis" and blaming victims of accidents and malpractice when in fact it is the insurance companies themselves that are "harming consumers and causing rates to go up through unscrupulous deals."

Attorney Robert Bonsignore is preparing to file a class action suit in U.S. District Court in Boston accusing insurance broker Marsh and several insurers of price-fixing and consumer fraud.

Bonsignore said his suit would target Ace Insurance Co., American International Group, MetLife and Hartford Financial Services for allegedly paying kickbacks for business to Marsh.

Bonsignore said he hopes his suit will lead to major changes in the insurance industry. If the suit is certified a class action, he predicted the return to consumers -- and the price tag for insurers -- would be "huge."

The lawsuit follows New York State Attorney General Eliot Spitzer's charges that Marsh illegally steered accounts to AIG, Ace Insurance and the Hartford.

Bonsignore puts the blame for the insurance crisis on the industry's top executives.

"Insurance is not corrupt," he said. "It's the people who have been making these deals that have to go. There needs to be a cleaning out of the executives."

Referred from: (http://www.consumeraffairs.com)