Violation Tracker Individual Record

Company: 
Chubb
Current Parent Company: 
Chubb Limited
Penalty: 
$17,000,000
Year: 
2006
Date: 
December 21, 2006
Offense Group: 
competition-related offenses
Primary Offense: 
price-fixing or anti-competitive practices
Violation Description: 

Property casualty insurer Chubb reached a $17 million settlement (including $15 million in customer restitution) resolving allegations of customer steering, improper finite reinsurance transactions and possible participation in a bid-rigging scheme led by brokerage subsidiaries of Marsh & McLennan Companies, Inc.

Level of Government: 
state
Action Type: 
agency action
Agency: 
Multistate Attorneys General Case
Civil or Criminal Case: 
civil
HQ Country of Parent: 
Switzerland
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
insurance
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.