Insurance Scam Exposed

[In a sidebar to the print edition of this article Lesley University and Boston College are included in the list of institutions affected.]
[From article]
"The unregistered policies allowed Huntington-based Waldorf & Associates to pocket tens of millions of dollars in extra profits over the years while its clients [. . .] were potentially put in harm's way,
[. . .]
And they might still be selling the improper policies if not for a dutiful New York City Department of Law employee who stumbled over a Waldorf IP policy in 2009, and alerted the state Insurance Department to the scandal, The Post probe learned.
STATE regulators found that the Waldorfs did indeed sell IP insurance improperly since 1995, and that millions in required taxes were never paid.

http://www.nypost.com/p/news/business/brokers_sin_of_commission_Ljk7D2Scc1R9RXAz7FSBnJ

Brokers' sin of commission
15-yr. insurance scheme exposed
By PAUL THARP
New York Post
Last Updated: 2:21 PM, May 26, 2011
Posted: 1:09 AM, May 26, 2011