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Endurance subpoenaed by Spitzer

New York State Attorney General Eliot Spitzer

Bermuda-based Endurance Speciality Holdings Ltd. last night reported that its United States subsidiary received a subpoena from the New York Attorney General Eliot Spitzer.

The company said in a statement that the subpoena for Endurance Reinsurance Corporation of America requests documents in connection with the investigation into contingent commission agreements.

“Among other things, the subpoena seeks documents concerning efforts by any insurance broker to exclude or limit an insurance company's access to the insurance market and documents concerning efforts or requests by any insurance broker to manipulate bids or price quotes, or submit false or inflated bids or price quotes in insurance markets,” the company said.

Endurance has not been named in any lawsuits stemming from the investigation.

The statement went on to say: “Endurance is committed to honest and ethical standards of business conduct and intends to fully cooperate with the New York Attorney General's investigation.”