Insurers Get Approval Of $10.5M Settlement In Antitrust MDL

Law360, New York (August 1, 2013, 10:34 PM EDT) -- A New Jersey federal judge approved a $10.5 million settlement Thursday between two dozen insurance companies and thousands of policyholders who accused them in multidistrict litigation of conspiring with brokerages to inflate commercial insurance prices.

The settlement resolved antitrust and racketeering claims from roughly 20,000 entities who bought the insurers’ excess casualty or commercial insurance policies through New York-based broker Marsh & McLennan Cos. Inc. between 1998 and 2005.

The deal ended litigation between the plaintiffs and a series of insurance companies that were all part...
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