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To: shades who wrote (50659)	5/6/2006 9:23:00 AM
From: shades	Read Replies (1) \| Respond to of 116555

Liberty Mutual To Contest Allegations Of Bid-Rigging Dow Jones Newswires Liberty Mutual Group (LMG.XX) said it would contest allegations of bid-rigging brought by the states of New York and Connecticut, and said it is prepared to resolve these issues in court. Earlier Friday, New York Attorney General Eliot Spitzer and Connecticut Attorney General Richard Blumenthal filed a suit alleging the company of making payoffs to brokers and agents to steer customers to Liberty Mutual. The Boston-based property and casualty insurer said allegations of wrongdoing regarding commission payments and reinsurance brokering are incorrect and said its conduct in both areas was "appropriate and lawful." Liberty Mutual also said the settlement demands are "excessive and unreasonable," both in terms of magnitude and in their demands that the company change its legitimate business practices in states outside their legal jurisdictions. Liberty Mutual said two former employees violated its standards of conduct in their quotation activity. One employee left in 2001 and the other resigned in the course of the investigation in 2005. -Karen M. Lee; 201-938-5400; Asknewswires@dowjones.com (END) Dow Jones Newswires May 05, 2006 16:48 ET (20:48 GMT) Copyright (c) 2006 Dow Jones & Company, Inc.- - 04 48 PM EDT 05-05-06