Verisk Subsidiary Cleared for $4 Million ERISA Class Settlement

Insurance Services Office Inc. employees received final approval for a $4 million class settlement resolving their lawsuit saying the company’s retirement plan is filled with overly expensive investments that cost them millions of dollars.

The agreement is slated to benefit about 7,787 people covered by the Verisk Analytics Inc. subsidiary’s 401(k) plan since 2014. It represents about 10% of the plan participants’ maximum potential damages, and it requires the company to conduct a formal search for a new plan recordkeeper within five years, according to the settlement motion.

Magistrate Judge André M. Espinosa of the US District Court for ...