NU Online News Service, May 20, 3:50 p.m. EDT–ACE Limited reported that the legal costs sparked by investigations concerning its role in suspected contingency fee abuses have amounted to more than $40 million.

In its 10-Q filing, for the first quarter of 2005, the Hamilton, Bermuda-based insurer said it has “paid and accrued over $40 million,” approximately $30 million of which was recorded in the first quarter.

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