Business Services Industry
Liberty Mutual to fight bid-rigging charges; Spurns settlement offers from Spitzer, Blumenthal.(Liberty Mutual Group Inc lawsuits)
Business Insurance, May, 2006 by Parekh, Rupal
Byline: RUPAL PAREKH and DOUGLAS McLEOD NEW YORK-Liberty Mutual Group Inc. is gearing up to battle state officials in court, after attorneys general from New York and Connecticut last week filed separate lawsuits accusing the property/casualty insurer of steering and bid rigging as part of an anti-competitive scheme with insurance brokers.
Liberty Mutual previously had not faced any charges related to state officials' investigations of bid rigging and client steering, though it has been cited in related court filings, and a former Liberty International Underwriters employee last year pleaded guilty to criminal charges stemming from New York Attorney General Eliot Spitzer's investigation of Marsh & McLennan Cos. Inc. Marsh last year paid $850 million in...
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