Lawsuit stems from bid-rigging allegations dating back to 2004
Marsh has agreed an $88m settlement with a group of plaintiffs in a lawsuit stemming from bid-rigging allegations dating back to 2004, reported A. M. Best.
The settlement provides $69 million in payments to the plaintiffs, including $7 million in administrative costs, and $19 million in legal fees, according to court documents.
The class action lawsuit arose from events in 2004. Marsh was one of a number of brokers accused by the plaintiffs of allegedly rigging bids for commercial insurance contracts.