Zurich American Insurance Co

Zurich American Insurance Co. has agreed to pay nearly $172 million in a deal with nine states to settle allegations of bid rigging and price fixing in the commercial insurance market, state officials said Sunday. Policyholders in all 50 states would receive $151.7 million in refunds, said Mark Tobey, a lawyer with the Texas attorney general's office.

Zurich American Insurance Co. will pay $122 million to resolve claims of bid-rigging and price-fixing in the commercial insurance market under a nationwide settlement negotiated by California and 10 other states, Pennsylvania Atty. Gen. Tom Corbett said. The states alleged that Zurich American conspired with brokers to overcharge commercial policyholders and failed to disclose its payment to brokers of commissions that were contingent on the brokers' selling a certain amount of Zurich policies.

Zurich American Insurance Co. will pay $122 million to resolve claims of bid-rigging and price-fixing in the commercial insurance market under a nationwide settlement negotiated by California and 10 other states, Pennsylvania Atty. Gen. Tom Corbett said. The states alleged that Zurich American conspired with brokers to overcharge commercial policyholders and failed to disclose its payment to brokers of commissions that were contingent on the brokers' selling a certain amount of Zurich policies.

Zurich American Insurance Co. has agreed to pay nearly $172 million in a deal with nine states to settle allegations of bid rigging and price fixing in the commercial insurance market, state officials said Sunday. Policyholders in all 50 states would receive $151.7 million in refunds, said Mark Tobey, a lawyer with the Texas attorney general's office.

Microsoft Corp.'s primary insurer is seeking to bar the world's No. 1 software company from claiming coverage for the cost of defending a barrage of private antitrust lawsuits. In a suit filed last month in federal court in Washington, Zurich American Insurance Co., a unit of Switzerland's Zurich Allied, asked a federal judge to declare that its general-liability policy doesn't cover the legal expenses spawned by Microsoft's antitrust woes.

Arden Realty Inc., the largest office landlord in Los Angeles County, purchased Warner Corporate Center in Woodland Hills for $64.5 million. The Los Angeles real estate investment trust bought the 254,000-square-foot, 12-story tower from Grosvenor, a London-based developer. The building at 21300 Victory Blvd. in Warner Center is 98% leased to such tenants as Cardinal Health Inc., First Health Group Inc., McDonald's Corp., Zurich American Insurance Co., D.R. Horton Inc., Bank of America Corp.

An affiliate of British real estate company Grosvenor has acquired the 12-story Warner Corporate Center office tower at Victory Boulevard and Canoga Avenue in the Warner Center commercial district in the San Fernando Valley. Grosvenor's San Francisco-based Vice President Alan Chamorro wouldn't disclose the price his firm paid an affiliate of Japan-based Nomura Real Estate for the 75% leased, 253,000-square-foot building.

Eight former executives at Marsh & McLennan Cos. were charged with felonies in indictments unsealed Thursday in New York Atty. Gen. Eliot Spitzer's investigation of bid rigging and price fixing in the insurance industry. The former executives were accused of colluding with brokers and executives at major insurance companies to arrange noncompetitive bids for corporate customers of New York-based Marsh & McLennan, the nation's largest brokerage.

* Pacer International signed a 10-year, $17-million lease for 323,074 square feet of industrial space at 2700 E. Imperial Highway in Lynwood, an expansion of Pacer's facilities at the site. Jeff Morgan and John Schumacher of CB Richard Ellis represented the landlord, Sares-Regis Group. The tenant was represented by Greg Gill of Matlow-Kennedy Commercial.

State regulators on Tuesday urged the federal government to take a stronger hand in investigating and ending cartel-like behavior in the insurance industry, but to do so without reducing the states' traditional authority over insurance. New York Atty. Gen.

Microsoft Corp.'s primary insurer is seeking to bar the world's No. 1 software company from claiming coverage for the cost of defending a barrage of private antitrust lawsuits. In a suit filed last month in federal court in Washington, Zurich American Insurance Co., a unit of Switzerland's Zurich Allied, asked a federal judge to declare that its general-liability policy doesn't cover the legal expenses spawned by Microsoft's antitrust woes.