NU Online News Service, March 22, 2:33 p.m. EDT
Another chapter has closed on the contingent commission kickback saga with an agreement reached between nine insurers and insurance brokers and clients who alleged the industry tried to manipulate the business.
A settlement was reached in a U.S. District Court of New Jersey class-action suit dating back to 2004 that involved accusations of bid-rigging, price-fixing and steering of commercial insurance contracts in exchange for lucrative contingent commissions.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
