Federal Judge Approves $41M Settlement Between Insurers, Insurance Brokers

Federal Judge Approves $41M Settlement Between Insurers, Insurance Brokers

NEWARK, N.J. - A federal multidistrict litigation judge in New Jersey approved a $41 million settlement agreement on March 30 between settling plaintiffs and defendants regarding allegations of a bid-rigging conspiracy between insurance companies and insurance brokerage firms (In re: Insurance Brokerage Antitrust Litigation, MDL No. 1663, Signum LLC v. AON Corp. and AON Risk Services of the Carolinas Inc., No. 05-4047, D. N.J.; 2012 U.S. Dist. LEXIS 44861).

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