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18 May 2012

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AIG settles Marsh bid-rigging case

13 April 2010

American International Group (AIG) has reached a $9mn out-of-court settlement with the Ohio attorney general over accusations that it colluded with Marsh to create fictitious quotes designed to simulate competitive bidding.

The US government-controlled insurer agreed to the seven-figure payout in order to bring the case to a speedy conclusion, but it continues to deny wrongdoing.

State attorney general Richard Cordray alleged in a complaint filed in Cuyahoga County Common Pleas Court that AIG conspired with other insurers and &quo...

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