Marsh and insurers back in the dock over kickbacks
The US Third Circuit Court of Appeals in Philadelphia has reinstated a nationwide class action case alleging antitrust and racketeering bid rigging by Marsh & McLennan and other insurers and brokers, Reuters reports.
The lawsuit claims brokers colluded with insurers for payments or kickbacks to get clients to buy from particular insurers without competition.
The original defendants in the part of the class-action case looking at Marsh included 13 insurers such as AIG, Chubb, Hartford Financial Services, Liberty Mutual and Travelers.
Conspiracy
In that part of the case, the plaintiffs "plausibly suggest an unlawful horizontal conspiracy not to compete" for business, Judge Anthony Scirica wrote in the Third Circuit ruling.
"This agreement to divide the market, if proven, would be a naked restraint of trade subject to per se condemnation," he added.
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