The Hartford said it is trying to negotiate a settlement of bid-rigging allegations, but "it is likely" that the New York Attorney General or another agency will sue the company.
In its 10-Q filing with the Securities and Exchange Commission, the company noted the price-fixing lawsuit filed Oct. 14, 2004 by then New York Attorney General Eliot Spitzer against Marsh & McLennan and its Marsh Inc. brokerage subsidiary.
That suit alleged that big name insurers including the Hartford, Conn.-based Hartford made arrangements with the brokerage to submit inflated bids for commercial insurance and paid contingent commissions to ensure Marsh would send business their way.
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