LLoyd’s Syndicate Insurance
A proposed partial class action settlement has been reached with some, but not all, of the Lloyd’s Syndicates who are Defendants in the case and sold insurance to policyholders in the United States. Plaintiffs assert causes of action against the Defendants for violation of the Racketeer Influenced and Corrupt Organizations Act, civil conspiracy, and unjust enrichment based on allegations that Defendants engaged in a deceptive scheme to conceal the lack of competition in the Lloyd’s Market. The Settling Defendants deny the allegations made against them.
The Settling Defendants have agreed to make separate payments to settle the claims against them. The total amount of these payments is $21,950,000.
For more information, go to https://www.syndicatesettlement.com.