Lloyd’s of London Insurance Price-Fixing Class Action Settlement
Case Overview
Lloyd’s agreed to pay $3.57 million as part of a class action settlement to resolve allegations that the company violated federal racketeering laws by collaborating with other insurance providers to increase the cost of insurance policies. This price-fixing scheme allegedly violated the federal Racketeer Influenced and Corrupt Organizations Act (RICO).
The settlement benefits those who purchased or renewed an insurance contract with Lloyd’s syndicates 727, 1003, 2003, 2020, and 2791 between January 1, 1997, and April 15, 2025; however, it does not cover policies from syndicate 2488. Class members can receive a cash payment based on the premiums they paid, with those who paid higher premiums receiving a larger share.
Who May Qualify
Consumers who purchased or renewed an insurance contract with Lloyd’s Syndicates 727, 1003, 2003, 2020, and 2791 between January 1, 1997, and April 15, 2025.
Frequently Asked Questions
Who is eligible for this settlement?
The settlement benefits consumers who bought or renewed an insurance contract with Lloyd’s Syndicates 727, 1003, 2003, 2020, and 2791 during the period spanning January 1, 1997, to April 15, 2025. Note that policies from syndicate 2488 are excluded from this settlement.
What is the deadline for filing a claim?
Class members must submit a valid claim form by October 30, 2026, to receive potential settlement benefits. The final approval hearing for the settlement is scheduled for October 23, 2026.
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