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The Collaborative Clearinghouse for Lawsuits and Other Claims Against ACE Group Insurance Companies

Eliot Spitzer

NY Attorney General: Ace Settles Bid Rigging Probe - Press Release

Agreement is Part of Ongoing Effort to Restore Competition in Insurance Industry

Attorney General Spitzer and State Insurance Superintendent Howard Mills today announced an agreement with ACE, Ltd, a Bermuda-based holding company that trades on the New York Stock Exchange, and its United States subsidiaries to resolve allegations of bid-rigging and improper "finite reinsurance" transactions.

Connecticut Attorney General Richard Blumenthal and Illinois Attorney General Lisa Madigan also joined in today's settlement.

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Connecticut Attorney General Announces Insurer ACE to Pay $80 Million to Settle Bid Rigging Allegations - Press Release

Attorney General Announces Insurer ACE to Pay $80 Million to Settle Bid Rigging Allegations

 

April 26, 2006

 

Attorney General Richard Blumenthal today announced that insurer ACE, Limited (ACE) will pay $80 million in an agreement with Connecticut, Illinois and New York to settle allegations it rigged bids and secretly paid insurance brokers tens of millions of dollars in exchange for steering business to ACE.

 

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Illinois Attorney General: Madigan: Settlement Reached with the Hartford; Investigation Uncovered Unlawful Fictitious Quoting Scheme - Press Release

July 23, 2007


Illinois to Receive $3 Million Payment

Chicago – Illinois Attorney General Lisa Madigan, New York Attorney General Andrew Cuomo and Connecticut Attorney General Richard Blumenthal today announced a $115 million settlement agreement with one of the nation's largest property and casualty insurers over charges of improper fictitious quoting, steering of insurance business and allowance of improper market-timing in variable annuity products.

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