Zurich American Insurance Co.

Columbus, OH: The Ohio Department of Insurance filed a lawsuit against the company claiming it was involved in a market allocation scheme with another company. The Ohio Attorney General's office alleged Zurich American conspired with Marsh & McLennan Companies to eliminate competition by dividing its commercial customers. The state claimed Zurich misled customers by inflating its premiums for commercial casualty insurance policies in Ohio. Without admitting to the allegations, Zurich American has agreed to pay $5 million in civil penalties and to reimburse $2 million to the state for legal and investigative costs for the lawsuit. (Oct-25-06) [COLUMBUS BUSINESS JOURNAL: ZURICH INSURANCE]

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