NU Online News Service, March 22, 2:33 p.m. EDT
Another chapter has closed on the contingent commission kickback saga with an agreement reached between nine insurers and insurance brokers and clients who alleged the industry tried to manipulate the business.
A settlement was reached in a U.S. District Court of New Jersey class-action suit dating back to 2004 that involved accusations of bid-rigging, price-fixing and steering of commercial insurance contracts in exchange for lucrative contingent commissions.
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