Spitzer nearing more insurance settlements
The source also said that New York recently opened an investigation into an obscure corner of the insurance business called life settlements.
Insurance broker National Financial Partners (NFP.N) this week disclosed it recently received a subpoena seeking information regarding life settlement transactions.
Marc Violette, a spokesman for Spitzer’s office, declined to comment on the subpoena.
In a life settlement, funds and other investors pay a lump sum for high-premium life insurance contracts taken out by rich people and top executives over age 65.
Source: Reuters
