Employers Reinsurance Corp., Kansas City, Mo., says it believes there might be problems with several price quotes it issued at the request of a large insurance broker.[@@]
The company issued the quotes, which involved cases with premiums of less than $1 million, through 1 former employee and 1 current employee at the request of a unit of Marsh & McLennan Companies Inc., New York, Employers Re says.
Employers Re, a unit of General Electric Company, Fairfield, Conn., says it discovered evidence of possible problems with quotes during a 5-week internal investigation.
Employers Re notes that the quotes involved cases that were very small when compared with the company’s total annual production of $9.7 billion in insurance business.