Arthur J. Gallagher & Co. has agreed to resolve all claims in the Federal Multi-District class action pending in the New Jersey Federal District Court against commercial insurers and brokers relating to industry-wide contingent commission matters.
In its written statement, Gallagher admitted no wrongdoing, but said it chose to conclude its involvement, rather than prolong what could be a costly and burdensome lawsuit. The settlement, which is subject to court approval, provides for Gallagher to distribute $28 million to current and former clients and others that used a broker to purchase retail insurance from 1994 to 2005. The company will also pay $8.85 million in plaintiff’s attorney fees.
Topics Lawsuits A.J. Gallagher
Was this article valuable?
Here are more articles you may enjoy.
WTW Sues Former Yacht Team, Howden US Over Defection 
Florida Court Says 2020 Law Gives ‘Very Broad’ Liability Immunity to Rideshare Firms 
Texans Hate Data Centers So Much They Are Asking Jesus for Help 
USI Insurance Services Claims Ex-Broker Poached Clients for Own New Agency From This Issue
