Bermuda-based ACE and its insurance subsidiaries have settled multistate bid-rigging accusations by agreeing to pay $4.5 million, it was announced.

Oregon Attorney General Hardy Myers on Thursday put out a statement concerning the agreement to settle state antitrust claims that involved improper, fictitious quoting and steering of insurance businesses.

The stipulated general judgment filed in Marion County Circuit Court names ACE Group Holdings Inc. and its subsidiaries.

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