Updated at 11:00 a.m., Monday, December 31, 2007
Hawaii part of settlement with Travelers Cos.
Advertiser Staff
The state of Hawai'i is one of 10 states that have reached a settlement with The Travelers Companies Inc., which entered the agreement to resolve allegations of improprieties in the commercial insurance market.The state of Florida announced Travelers will pay $6 million to the states and had agreed to a final judgment that will include comprehensive injunctive relief and a disclosure of how much Travelers pays to insurance brokers.
Florida said Travelers allegedly conspired with Marsh & McLennan and other brokers to create an illusion of a competitive bidding process.
