Regulatory scrutiny will strengthen carriers and brokers.[@@]
Steven Schwartz, a senior vice president in the Chicago office of Raymond James & Associates, made that prediction during an insurance conference organized by the New York Society of Security Analysts.
One topic Schwartz discussed was the investigation of insurers and brokers sparked by New York Attorney General Eliot Spitzer.
“Spitzer will be very good for the life insurance industry in the long run,” Schwartz told his fellow securities analysts.
The investigation will help insurers by loosening the power that the distribution system now has over both life and property-casualty insurers, Schwartz said.