The latest insurance broker to plead guilty (without actually pleading guilty) is HRH, aka Hilb Rogal &Hobbs, who agreed to pay $30 million into a compensation fund plus a $250,000 fine to settle charges related to rebating, account steering, and broker compensation activities at it’s Connecticut subsidiary.
According to Insurance Journal;
“The state complaint against HRH centered on its dealings with a hospital management company. The state claimed that HRH shared commissions with Women’s Health USA Connecticut and steered clients to preferred brokers to win bigger commissions. State law forbids rebating by brokers to clients. Women’s Health Connecticut has denied it received rebates or shared commissions. The settlement indicates that HRH’s Hartford office disguised the deals
Sep
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