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Violation Tracker Individual Record

Company: TravelersCompanies, Inc.
Current Parent Company: Travelers
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Penalty: $6,000,000
Year: 2007
Date: December 28, 2007
Offense Group: competition-related offenses
Primary Offense: price-fixing or anti-competitive practices
Violation Description: Travelers agreed to pay $6 million to settle multistate litigation alleging that it participated in an intricate bid rigging scheme in which broker Marsh and McLennan pre-designated which insurance company's bid would win a particular account.
Level of Government: state
Action Type: agency action
Agency: Multistate Attorneys General Case
Civil or Criminal Case: civil
HQ Country of Current Parent: USA
HQ State of Current Parent: New York
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: insurance
Source of Data: Attorney General Martha Coakley Announces that Massachusetts will Receive $1.3 Million in Ten-State Settlement with Travelers Insurance, States News Service, December 28, 2007 (via Nexis).
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.