NEW YORK -- Insurance brokerage giant Marsh & McLennan Cos. Inc. announced Nov. 13 that it had reached an agreement for $400 million to settle a consolidated class action filed in 2004 over alleged securities law violations made in connection with an alleged illegal bid-rigging scheme (In re Marsh & McLennan Cos. Inc. Securities Litigation, No. 04-8144, MDL No. 1744, S.D. N.Y.). From Mealey's Litigation Report: Insurance Broker Liability