Zurich Settles Insurance Probe With IL, Two Other States

Spitzer announced Monday that Zurich American Insurance will pay $153 million in restitution under a settlement with New York, Illinois and Connecticut.

The settlement calls for $88 million of the settlement to go to Zurich policy holders. New York state will get $39 million in penalties, while Illinois and Connecticut will each get $13 million.

The settlement is part of Spitzer's investigation of Marsh and McClennan, the nation's largest property and casualty brokerage. The firm settled last year for $850 million over allegations of bid rigging and price fixing as well as hidden commissions


23 WIFR 2523 North Meridian Road Rockford, IL. 61101 Business: 815-987-5300 Fax: 815-965-0981 News: 815-987-5330 Fax: 815-987-5333
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 2528361