Connecticut’s Attorney General Richard Blumenthal can attempt to recover damages from Marsh & McLennan Inc. for harming the economy of the entire state, the state's Supreme Court ruled last week. The ruling stems from a still-pending 2005 suit against Marsh that alleges the mega-brokerage rigged bids and colluded with insurers in a “pay to play” scheme in which it set prices for commercial insurance in the state.

Connecticut is one of only a handful of states that allows regulators to seek damages for anti-competitive business practices that harm generally the economy of the state. Blumenthal contends that Marsh's unfair business practices raised the prices of insurance for all consumers and harmed both policyholders and non-policyholders.

CT Supreme Court Allows State Damages Suit Against Marsh (Insurance Journal 4/10/08)

April 15, 2008