Legal
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The ruling is another blow to McGriff in its battle over the loss of senior employees to the rival. -
The professional services firm said it was seeking to provide a broad range of solutions for clients.
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The lawsuit over $74mn in losses from a 2013 data breach is closely-watched by the cyber insurance market.
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The self-insured sector looks set to boom but the segment – and the intermediaries that serve it – are coming under increased scrutiny.
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CAC asked a judge to throw out a suit over the hiring of 30 employees and leave allegations involving Mike Rice to arbitration.
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The carrier said the blunder last August caused widespread disruption to its business.
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The dispute concerns whether insurers should pay out for damage from fire-related pollution.
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The parties agreed to a “mutual resolution of all claims”, noted Guy Carpenter’s legal counsel.
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The broking giant also resolved its case against four former employees who left for the smaller rival.
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The Corporation had previously failed to provide sufficient whistleblowing avenues for staff, the regulator said.
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Lawyers for the parties told a judge it has “agreed in principle” to settle the case against four former JLT Specialty staff members.
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The measure will now go to the White House to be signed into law.
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