MMC Settles Ohio Bid-Rigging Suit For $4.75M

Law360, New York (September 28, 2010, 2:49 PM EDT) -- Marsh & McLennan Cos. Inc. has agreed to pay $4.75 million to settle a lawsuit alleging the insurance broker conspired with insurers to eliminate competition in the commercial casualty insurance industry.

Ohio Attorney General Richard Cordray announced the end of the antitrust suit against Marsh & McLennan, noting that the settlement provides millions for the Ohio schools and municipalities that paid inflated premiums due to bid-rigging in the sector.

Cordray laid the groundwork for the Marsh & McLennan settlement in April, when American International Group Inc....
To view the full article, register now.