Marsh & McLennan Companies has agreed to pay Ohio $4.75 million to settle an antitrust lawsuit stemming from allegations that the company’s insurance brokerage firm engaged in a bid-rigging and kickback scheme in return for lucrative contingent commissions.

Last week, Ohio Attorney General Richard Cordray said MMC settled a lawsuit filed in Cuyahoga County Common Pleas Court that accused MMC’s brokerage subsidiary Marsh of “conspiring with various insurers to eliminate competition in the commercial casualty insurance industry.”

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