Tom Corbett

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Jurisdictions

Allegations

ACE settles Pennsylvania action for $9 m

ACE Ltd. has agreed to pay $9 million to settle allegations that it was involved with other insurers and brokers to rig bids for excess casualty insurance. The settlement agreement between ACE, Pennsylvania Attorney General's Office and the Pennsylvania Department of Insurance was announced on May 14.

Allied World Assurance and ACE settle with US regulators

Two Bermuda based insurers recently announced they had reached settlements with United States regulators who were looking into allegedly illegal practices.First, Allied World Assurance Company Holdings Ltd. disclosed on April 12 that it was taking a charge of $2.1 million