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.