Products December 6, 2004

Minnesota Life Unveils Broker Comp Practices Site

December 6, 2004 (PLANSPONSOR.com) - Minnesota Life Insurance Company has launched SecurianResearch.com, a Web site that provides information about the broker compensation issue in the group life insurance industry now the focus of a wide-ranging regulatory probe.
Reported by

According to a news release,  SecurianResearch.com provides links to updated news about regulatory actions and lawsuits filed in connection with undisclosed broker compensation focused on in the investigation sparked when New York Attorney General Eliot Spitzer filed suit against the world’s largest property-casualty insurance broker, Marsh & McLennan (See  Spitzer Takes On Contingent Commissions ).

Earlier this month, Spitzer filed a similar suit against Universal Life Resources (ULR), a San Diego-based employee benefits broker (See  Spitzer Expands Focus in Insurance Probe ). California Insurance Commissioner John Garamendi’s office also sued ULR (See  CA sues Insurance Broker, Providers in Commission Scheme  ).

SecurianResearch.com also offers links to legal documents and a glossary of terms used in connection with undisclosed broker compensation. Visitors soon will be able to sign up for automatic email updates from SecurianResearch.com.

Minnesota Life is a subsidiary of Securian Financial Group, Inc.

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