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State Settles With Insurance Broker
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The state of Connecticut will collect $2.4m from the settlement of a long running suit against insurance broker Marsh & McLennan. 

The state sued Marsh in 2005 as part of an extensive investigation into alleged bid-rigging in the insurance industry.

Attorney General Richard Blumenthal accused the New York based broker of steering business to certain insurance companies in return for kickbacks.

He says Connecticut consumers were the ones to suffer under the scheme.

"We will not tolerate this surreptitious, secret scheme, involving kickbacks and bid-rigging, that ultimately cost hundreds of millions of dollars to consumers in higher insurance premiums, and benefitted only the insurers and Marsh McLennan." 

In making the settlement, Marsh did not admit wrongdoing in the case.

Blumenthal says there have now been a dozen settlements resulting from the broader investigation.  The state has collected more than $35m in civil penalties, and recouped more than $500m in restitution for consumers.