Twenty six state colleges, cities and other public entities are set to get part of a nine million dollar anti trust settlement negotiated by Ohio's Attorney General. Ohio Attorney General Richard Cordray says they were duped by AIG, the world's largest insurance company. Cordray says AIG conspired with other insurance companies, and insurance broker Marsh and McClennan to eliminate competition, keeping premiums high for universities, schools and cities throughout the state.
Cordray says within the next three months, more than $3 million of the $9 million settlement will be distributed to the public entities in this case. That means Ohio State University, for example, can expect a check worth more than $1.2 million. The Dayton Public Schools will soon be getting more than $118,000. And the Cleveland Municipal Schools will get more than $140,000 within the next three months from this settlement. The rest of the money will be held until the entire anti-trust case against all parties has been completely resolved. And that could take a while yet because the state is going after at least eight other players