Allegations of Bid Rigging by Major Insurers
Analysis Group supported our academic affiliate Edward Snyder, Dean of The University of Chicago Graduate School of Business. Dean Snyder was retained by a group of defendants in this class action against major insurance companies and brokers to assess allegations of “steering” business through use of contingent commissions and bid rigging. He was asked to determine whether a class approach was appropriate to assess impact and potential damages assuming that liability was established. Analysis Group reviewed the documentary evidence and analyzed individual policyholder insurance data over multiple years to determine whether the alleged conduct impacted the efficiency of the market.
We also examined patterns of behaviors related to customer retention and insurance premiums to determine whether they indicated consistencies that would allow a class-wide evaluation of impact and damages, or whether the patterns of behaviors across companies, customers, and time suggested individual inquiry would provide a superior approach.