Insurance Cos. Settle For $69M In Bid-Rigging MDL

Law360, New York (July 7, 2008, 12:00 AM EDT) -- Insurance broker Marsh & McLennan Companies Inc. has filed a proposed settlement totaling $69 million 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.

The proposed settlement, filed Thursday in the U.S. District Court for the District of New Jersey, comes about 10 months after a judge dismissed two MDL suits alleging that insurance brokers and insurance companies had engaged in bid-rigging to inflate premiums for...
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