Litigation

Marsh & McLennan Companies agreed to pay Ohio $4.75 million to settle an antitrust lawsuit stemming from allegations that the company's insurance brokerage firm engaged in a bid-rigging and kickback scheme in return for lucrative contingent commissions.

A federal judge in New York has denied a request by American International Group (AIG) to have a securities fraud class action lawsuit against it dismissed.

Putting an end to about five years of litigation, a federal judge in Connecticut has given her final approval of a $72.5 million settlement involving The Hartford Financial Services Group.

In seeking directors and officers' coverage Peter G. McDonough, general counsel for Princeton University, said he is primarily concerned with defense cost certainty. "Retention is what I really care about."

The Independent IIABNY said it will hold a series of information sessions for insurance producers to help prepare them for the state's disclosure regulation, scheduled to take effect Jan. 1.

A new government system monitoring motor-carrier safety will achieve a long-term goal of reducing crashes, experts agree, but it may have a short-term impact of driving up loss severity for inattentive insurance carriers, some warn.

With the delivery of warning letters to motor carriers from the Federal Motor Carrier Safety Administration still months away, transportation insurers are struggling to determine how to react.

Horace Mann Educators Corp. said it plans to keep its chief executive despite a drunk driving conviction that will keep him in jail for 60 days.