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.
