Violation Tracker Individual Record

Company: 
Zurich American Insurance Company
Current Parent Company: 
Zurich Insurance
Penalty: 
$171,700,000
Year: 
2006
Date: 
March 20, 2006
Offense Group: 
competition-related offenses
Primary Offense: 
price-fixing or anti-competitive practices
Violation Description: 

Zurich American Insurance Company agreed to pay $151.7 million in restitution, $20 million to the states and reform its business practices to settle multistate allegations that it unlawfully rigged bids for commercial insurance and made undisclosed payments to brokers for steering clients to Zurich.

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.