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...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.