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Federal Judge Approves $10.5M Settlement In Price-Fixing Suit Against Insurers, Brokers

TRENTON, N.J. - The New Jersey federal judge overseeing the insurance brokerage antitrust multidistrict litigation on Aug. 1 approved a $10.5 million settlement between insurance companies and policyholders who accused the insurers of conspiring with insurance brokers in a price-fixing scheme to inflate commercial insurance prices (In re Insurance Brokerage Antitrust Litigation, MDL No. 1663, No. 04-5184, D. N.J.; 2013 U.S. Dist. LEXIS 108042).
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