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Portfolio > Mutual Funds

Aon Complaint Mentions Benefits Carriers

By Allison Bell

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New York Attorney General Eliot Spitzer mentions UnumProvident Corp. and Mutual of Omaha in his complaint against Aon Corp., Chicago.[@@]

Spitzer and Aon announced today that Aon will be paying $190 million to settle an investigation focusing on the strategies it used to match customers and insurers.

A complaint filed on the Web site of the New York attorney general’s office says Aon pressed UnumProvident, Chattanooga, Tenn., to stick to previously approved compensation levels and that the firm warned Mutual Of Omaha, Omaha, Neb., that the company was paying a lower compensation level than competitors were paying.

UnumProvident declined to comment on the complaint, but a spokeswoman repeated earlier assurances that the company will cooperate fully with state regulators in their investigations.

Mutual of Omaha was not immediately available for comment.

The complaint is on the Web at //www.oag.state.ny.us/press/2005/mar/complaint.pdf

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