Zurich American Bid-Rigging Settlement Finalized

Law360, New York (December 5, 2006, 12:00 AM EST) -- A multimillion-dollar settlement involving Zurich American Insurance Co. has been finalized, allowing the company to pay $121.8 million to settle bid-rigging and price-fixing allegations in 11 states.

Zurich American is one of several large international insurers accused of conspiring to increase premiums for insurers and commissions for brokers.

Pennsylvania Attorney General Tom Corbett said Monday that nearly 173,000 Zurich policyholders will be entitled to a portion of the settlement.

Preliminary settlement terms revealed in March said that policyholders nationwide would receive $152 million in refunds, but...
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