AIG, Others To Pay $36.8M To Settle Antitrust MDL

Law360, New York (March 21, 2011, 11:05 PM EDT) -- A group of insurance brokers and companies — including American International Group Inc. and Travelers Cos. Inc. — agreed Friday to a $36.8 million settlement in long-running multidistrict litigation that accused scores of companies of bid-rigging.

AIG, Travelers, Liberty Mutual Holding Co. and XL Group PLC will cover the lion's share of the latest settlement in the litigation, which dates back to 2004, paying about $6.75 million each to settle with customers who purchased excess casualty insurance policies from 1998 through 2004, according to a settlement...
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