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NU Online News Service, Jan. 3, 1:15 p.m. EST

Liberty Mutual reached an agreement with two state attorneys general to pay a total of $7.5 million to settle allegations it engaged in a bid-rigging and kickback scheme with insurance brokers.

A spokeswoman for the Boston-based insurer confirmed the settlements, saying that the company would pay the state of Connecticut $2 million and New York a total of $5.5 million. Under the agreement, reached last week, the company neither admits nor denies any wrongdoing.

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