Robert Lockhart resigns from Hilb Rogal

In response to recent scandals surrounding the procurement of improper payments to steer accounts to insurers, the former president and chief operating officer of Hilb Rogal & Hobbs Robert Lockhart has resigned.
Hilb Rogal, the seventh-largest U.S. insurance broker, dropped 12% to $33.69 as almost 2 million shares changed hands.
Hilb Rogal unearthed these potential improper payments after the broker began an internal investigation. In a move towards disclosure, the Company has submitted all information about the payments to the U.S. Attorney for the State of Connecticut, that state’s Attorney General Richard Blumenthal and the Connecticut Commissioner of Insurance Susan Cogswell.