Rental Price-Fixing Case Sparks Tokio Marine Insurance Lawsuit

A Tokio Marine Holdings Inc. insurance unit is seeking a ruling that it doesn’t owe legal costs to a Washington state landlord accused of conspiring with other property managers and software company Yardi Systems Inc. to inflate the price of multifamily rental properties.

The commercial general liability policies issued to R.D. Merrill Real Estate Holdings LLC don’t cover the underlying proposed class action, Philadelphia Indemnity Insurance Co. said in a suit filed Thursday in the US District Court for the Western District of Washington.

The underlying case is one of several alleging companies in housing, food, and other industries are ...