3rd Circuit Approves Settlement in Brokerage Antitrust Litigation

[Editor's Note: This article was originally published in ReinsuranceFocus.com, and does not constitute legal or other professional advice or service by JORDEN BURT LLP and/or its attorneys. John Pitblado is an associate with Jorden Burt LLP at the firm's Simsbury, Conn. office.]

The 3rd Circuit Court of Appeals approved the class settlement of certain consolidated cases of the consolidated insurance brokerage antitrust litigation arising from the New York Attorney General's "bid-rigging" investigation in 2004. The district court approved proposed settlements involving Zurich-affiliate defendants and Arthur J. Gallagher & Co.-affiliate defendants, and denied the numerous individual objections to the proposed settlements. …