Marsh USA Inc., the insurance broker at the heart of a multidistrict antitrust litigation, will have to face claims that it conspired with carriers to artificially inflate prices, a New Jersey federal judge ruled on Wednesday.
The plaintiffs, commercial insurance purchasers including International Risk Insurance Co. and Huntsman Corp., alleged Marsh stood at the center of a horizontal conspiracy to suppress competition and protect incumbent business in the marketplace for excess insurance between 1998 and 2004. Marsh, they said, facilitated a sprawling bid-rigging scheme, securing false high quotes from companies and passing the quotes onto clients in order to trick them into thinking that competition had occurred.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
