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Home / MA: Insurer Pays Up In Bid Rigging CaseMA: Insurer Pays Up In Bid Rigging Case
Last Updated on Wednesday, 30 January 2008 12:02 Written by rslcpol Wednesday, 30 January 2008 12:02
American International Group Inc., the world’s largest insurer by assets, agreed to pay $12.5 million to Massachusetts and eight other states to end an investigation into bid-rigging allegations.
AIG units paid brokers including Marsh & McLennan Cos. to win business without the knowledge of clients, Florida Attorney General Bill McCollum said yesterday in a statement. AIG denied the allegations and settled to “avoid the expense and uncertainty of protracted litigation,” the New York-based insurer said in a separate statement.
This entry was posted on Wednesday, January 30th, 2008 at 12:02 pm and is filed under Attorney General News.
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