Company Name: Ace
Problem Type: Financial Institution		12b-1: NA% OER: NA%
Date/Problem:	Publicity Source:	Status-Ongoing Resolution:	Fund Police Opinion:
11/5/2004 Ace was invovled with Marsh and McLennan in a bid-rigging scandal. The company hasn't been charged but has been identified as a participant.	Wall Street Journal	Ace reported that it has fired two employees, suspended three others and will improve its compliance efforts.	Spitzer has implied that Ace was part of the "Cartel" designed by M & M to skim money from customers. FP says STAY AWAY.
10/19/2004 The investigation into Ace's invovlement in the bid-rigging scheme with Marsh and McLennan revealed an email that confirms the company's invovlement in the scheme was high level, with the President and CEO knowlingly misleading corporate customers.	Wall Street Journal	The email could be used as evidence to charge the company in the bid-rigging scheme case.	Spitzer has implied that Ace was part of the "Cartel" designed by M & M to skim money from customers. FP says STAY AWAY. The head rots from the top down on this one.
10/18/2004 Ace Ltd. participated in the bid-rigging with Marsh and McLennan by placing fake bids. The CEO of Ace is the son of the CEO of Marsh. They are being investigated and charged by Spitzer's office.	Wall Street Journal	The investigation has lead to many more companies coming under Elliot Spitzer's microscope to find violations and scandals.	Spitzer has implied that Ace was part of the "Cartel" designed by M & M to skim money from customers. FP says STAY AWAY. Nepotism+old boys netwok equals policy holders getting screwed.
10/18/2004 Participated in the bid-rigging scandal with Marsh and McLennan that Elliot Spitzer has exposed.	Wall Street Journal	One executive with Ace has plead guilty. The company will suspend practicing "contingent commissions" where the insurer pays a broker in exchange for steering business its way.	Spitzer has implied that Ace was part of the "Cartel" designed by M & M to skim money from customers. FP says STAY AWAY. Nepotism+old boys netwok equals policy holders getting screwed.