Violation Tracker Individual Record
Company:
Zurich American Insurance Company
Current Parent Company:
Zurich Insurance
Penalty:
$7,000,000
Year:
2006
Date:
October 25, 2006
Offense Group:
competition-related offenses
Primary Offense:
price-fixing or anti-competitive practices
Violation Description:
The Ohio Attorney General and the Ohio Department of Insurance reached a settlement with Zurich American Insurance Company resolving allegations that the company conspired with other insurers and insurance broker Marsh & McLennan to eliminate competition, mislead customers and inflate premiums paid for commercial casualty insurance policies in Ohio, all violations of Ohio's antitrust and insurance laws.
Level of Government:
state
Action Type:
agency action
Agency:
Ohio Attorney General
Civil or Criminal Case:
civil
Facility State:
Ohio
HQ Country of Parent:
Switzerland
Ownership Structure of Parent:
publicly traded
Major Industry of Parent:
financial services
Specific Industry of Parent:
insurance
Source of Data:
Ohio Enters Into $7 Million Settlement With Insurance Firm, US States News, October 25, 2006 (via Nexis).
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.
