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ACE Insurance Pays $4.5 Million to Settle Multi-state Bid-rigging Claims

National News • October 26, 2007
ACE Group Holdings has agreed to pay $4.5 million to end a bid-rigging and price-fixing case, according to state officials. The monies will be divided among eight states and the District of ...

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Subject: What a crock

Posted On: October 26, 2007, 3:35 pm CDT
Posted By: anon
Comment:
This is more political grandstanding. If anyone knows anything about ACE's Excess Casualty contract they would know that it was a piece of garbage as this NEW market at the time was trying to compete with AIG and Zurich. Not to mention all of the exclusions that ACE was issuing and how restrictive their own coverage was. This had absolutely nothing to do with bid-rigging anything.

Oh yeah, Mr. Regulator, you go write the "burn layer" on lead umbrella business at discount prices and let's see how much profit you can make in this line of business.

This is a bunch of garbage. Get a backbone ACE Legal and fight these out of control regulators.
Subject Posted By Posted On
What a crock anon
Oct 26, 2007, 3:35 pm
ACE Settles Multi-State Bid Rigging Claims non-believer
Oct 26, 2007, 1:05 pm
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