Lloyd's Syndicates To Pay $22M To End Antitrust Claims
Law360 (April 19, 2019, 10:26 PM EDT) -- Several Lloyd's of London syndicates have agreed to pay $22 million to settle class claims they were conspiring with insurance brokers to conceal exorbitant commissions and the anti-competitive nature of their market, according to a filing Friday in New Jersey federal court.
Thirteen of the 23 Lloyd's syndicates named in the suit will contribute $21,950,000 to a settlement fund in addition to agreeing to some changes to their business practices, according to a motion filed on Friday seeking preliminary approval of the deal.
While the settlement provides for the dismissal of all claims against the baker's dozen of settling syndicates, it...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!