Court Approves $69M Insurance Brokers Settlement

Law360, New York (February 19, 2009, 12:00 AM EST) -- A federal court has issued a final approval of a $69 million settlement filed by insurance broker Marsh & McLennan Cos. Inc. as part of a massive two-pronged multidistrict litigation suit against some of the nation’s largest insurance brokers and companies over alleged misconduct in commercial cases and employee benefit plans.

Judge Garrett E. Brown Jr. of the U.S. District Court for the District of New Jersey approved the settlement Wednesday and certified a class for settlement purposes.

The settlement, first proposed in July, comes after...
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