Ohio-based p/c group Great American Insurance...
... has agreed to pay $160,000 to Massachusetts regulators and $60,000 to a local client to settle charges that it submitted intentionally false quotes to ensure that AIG obtained a 2004 insurance renewal from Analog Devices. The state said that Great American submitted the phony bid at the request of broker Marsh & McLennan, which has paid nearly $900,000 in restitution to clients as a result of the multi-state probe into bid-rigging on large commercial p/c accounts.
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